Speculation surrounding MicroStrategy’s potential expansion into Bitcoin intensified after prominent BTC advocate Max Keiser hinted at an upcoming $25 billion stock offering by the company. Keiser, a well-known Bitcoin maximalist, suggested in a recent interview that MicroStrategy’s Executive Chairman, Michael Saylor, would initiate a substantial stock sale to fund additional Bitcoin acquisitions.
MicroStrategy to Purchase Another $25 Billion in Bitcoin?
Though unconfirmed, Keiser’s remarks quickly stirred excitement across social media. Moreover, netizens are considering the possibility credible given Saylor’s steadfast support for Bitcoin. Adding fuel to the fire, Saylor recently posted on X (formerly Twitter) a quote from Donald Trump voicing skepticism about crypto taxation.
Trump’s statement argued, “They have them paying tax on crypto and I don’t think that’s right. Bitcoin is money, and you have to pay capital gains tax if you use it to buy a coffee?” Trump added that he’d spoken with a friend who remarked, “it really shouldn’t be taxed,” a sentiment he echoed by saying, “I agree.” Saylor’s amplification of Trump’s perspective highlights a developing debate on BTC taxation, especially its impact on everyday transactions.
“They have them paying tax on crypto and I don’t think that’s right. #Bitcoin is money and you have to pay capital gains tax if you use it to buy a coffee? I was talking with a friend he said ‘it really shouldn’t be taxed’ and I agree.” – @realDonaldTrump
— Michael Saylor⚡️ (@saylor) October 30, 2024
Crypto exchange Kraken also weighed in, noting that exempting Bitcoin purchases from capital gains tax could “be a huge step for Bitcoin adoption.” Many Bitcoin advocates argue that tax exemptions would simplify using Bitcoin as a medium of exchange, potentially driving broader adoption and incentivizing businesses to accept crypto.
Moreover, Hours before Saylor’s post, MicroStrategy promoted itself as “The First Bitcoin Treasury Company” on its social media channels. As the largest corporate holder of Bitcoin, MicroStrategy has committed heavily to integrating BTC into its treasury strategy, amassing over 150,000 BTC since 2020. Saylor has consistently advocated for Bitcoin as a hedge against inflation and a superior store of value compared to traditional assets.
Upcoming Company Earnings
Coincidentally, MicroStrategy will report its third-quarter 2024 financial results today, October 30, after the close of U.S. financial markets. The company is scheduled to host a live video webinar at 5:00 p.m. ET to discuss its financial performance.
This announcement has only intensified speculation among Bitcoin enthusiasts, with many eagerly awaiting potential insights from Saylor on any planned stock offering or new Bitcoin acquisitions.
Despite the rumors, neither MicroStrategy nor Saylor has confirmed plans for a $25 billion stock sale. Still, market watchers will closely follow the company’s earnings call for any comments that could hint at future Bitcoin purchases.
The prospect of a massive stock sale aligns with MicroStrategy’s strategy of leveraging its corporate assets to accumulate Bitcoin. However, the speculative nature of Keiser’s claim means no official actions have been confirmed.
Also Read: 5 Reasons Bitcoin Price Surge Isn’t Stopping Anytime Soon
Source: https://www.cryptonewsz.com/microstrategy-bitcoin-trump-no-crypto-tax/