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‘Crypto Icon’ Michael Saylor Fails To Pay $100 Million In Taxes After Tax Evasion

Magic Mike - MicroStrategy and Michael Saylor

Michael @Saylor is a crypto icon💡. He has one of the biggest personal fortunes invested in @Bitcoin and founded @MicroStrategy,">@MicroStrategy the largest corporate holder of BTC.

But things haven’t been all roses for him lately …

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@saylor @Bitcoin @MicroStrategy Mr. @Saylor is not only one of the world’s loudest Bitcoin supporters, but he also puts his money where his mouth is: 🤑

• He founded @MicroStrategy,">@MicroStrategy an analytics platform that holds over 129,000 BTC, • and owns 17,732 BTC himself.

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@saylor @Bitcoin @MicroStrategy But the bear market came in full force, @Bitcoin’s">@Bitcoins value fell 50%, and @MicroStrategy stock price plummeted 70%📉!

And to make matters even worse, the D.C. attorney-general sued @Saylor for tax evasion.

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@saylor @Bitcoin @MicroStrategy According to the suit, @Saylor unlawfully deprived D.C. of 10s of millions of dollars in tax revenue.

He avoided paying income taxes in D.C. 🏛️ by claiming to be a resident of Florida 🏖️, a jurisdiction that has lower income tax rates.

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@saylor @Bitcoin @MicroStrategy In January 2021, the Bitcoin maximalist said in an interview:

"You can tell them to go f* themselves. Oh, my Bitcoin? I lost it in a boating accident. It's kind of a trope, but what it means is at the end of the day, if you push me too far, I lost it. Sorry, tax that!"

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@saylor @Bitcoin @MicroStrategy The lawsuit claims that @Saylor continued to reside in D.C. for at least 183 days during many taxable years. If the case is successful, it could end up costing him 100 million. 💰💰💰

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@saylor @Bitcoin @MicroStrategy According to @EamonJavers, @Saylor said:

" Florida is where I live, vote, + have reported for jury duty, and it is at the center of my personal + family life. Looking forward to a fair resolution in the courts.”

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@saylor @Bitcoin @MicroStrategy @EamonJavers Meanwhile, @MicroStrategy has proposed to sell 500M in shares to buy even more BTC.

If Bitcoin becomes a 100 TRILLION asset class (300x from here), @Saylor sure won´t have trouble paying the potential tax evasion bill.

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@saylor @Bitcoin @MicroStrategy @EamonJavers Is @Saylor guilty or innocent? Are his views on @Bitcoin correct? What do you think?

If you found this interesting, please like and RT the first tweet in the thread!

Follow @BSCNews and @cryptocavenaghi for more crypto coverage! 🙏

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This post is based on this twitter thread.

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