Strategy Stock Jumps After IRS Gives Crypto Tax Break
This article first appeared on GuruFocus.
Strategy (NASDAQ:MSTR) just scored a major win from Washington and investors wasted no time cheering.
The Treasury Department and IRS rolled out interim guidance that lets companies ignore unrealized crypto gains and losses when calculating their liability under the 15% corporate alternative minimum tax. For MicroStrategy, the biggest corporate holder of bitcoin, that’s a game changer. The company said it no longer expects to get hit with the tax thanks to the change.
That’s a relief for Michael Saylor’s firm, which only recently shifted to accounting rules that require marking bitcoin at fair value each quarter swings that led to $14.1 billion in unrealized losses last quarter,…
