Strategy saved $4.1 billion in taxes, but Bitcoin’s price is falling
In a filing dated October 5, Strategy estimated that it would report $20.91 billion in unrealized gains on digital assets for the third quarter, while also recognizing about $4.12 billion in income tax benefits. The reason: as of September 30, the market value of its Bitcoin holdings had risen above their purchase cost. The $4.12 billion deferred tax asset it had recorded at the end of June due to unrealized losses was reversed, bringing deferred tax expense for the third quarter down from about $6 billion to $1.88 billion.
But this isn’t cash earned by selling Bitcoin—it’s a change in accounting treatment, and auditors haven’t reviewed it yet. As of October 4, Strategy held 848,000 Bitcoin at an average cost of $75,440.70. Bitcoin is currently trading at $83,949 on Binance Spot, down 1.84% in 24 hours and only about 11% above Strategy’s cost basis.
The books look good only as long as Bitcoin’s price holds up. If it falls below the cost basis, the accounting will swing the other way next quarter.
I’ll continue holding my spot Bitcoin and won’t chase the price just because of this good news on paper.
#Strategy预估41亿美元所得税收益 $BTC
In a filing dated October 5, Strategy estimated that it would report $20.91 billion in unrealized gains on digital assets for the third quarter, while also recognizing about $4.12 billion in income tax benefits. The reason: as of September 30, the market value of its Bitcoin holdings had risen above their purchase cost. The $4.12 billion deferred tax asset it had recorded at the end of June due to unrealized losses was reversed, bringing deferred tax expense for the third quarter down from about $6 billion to $1.88 billion.
But this isn’t cash earned by selling Bitcoin—it’s a change in accounting treatment, and auditors haven’t reviewed it yet. As of October 4, Strategy held 848,000 Bitcoin at an average cost of $75,440.70. Bitcoin is currently trading at $83,949 on Binance Spot, down 1.84% in 24 hours and only about 11% above Strategy’s cost basis.
The books look good only as long as Bitcoin’s price holds up. If it falls below the cost basis, the accounting will swing the other way next quarter.
I’ll continue holding my spot Bitcoin and won’t chase the price just because of this good news on paper.
#Strategy预估41亿美元所得税收益 $BTC
