Crypto Community Splits Over Michael Saylor Tax Fraud

    The founder and CEO of MicroStrategy, Michael Saylor, was sued for tax fraud by the District of Columbia. According to DC Attorney General, Karl. A Racine, the bitcoin maximalist has lived in the District of Columbia for over a decade but has never paid any income tax.

    Saylor’s lawsuit has divided the crypto community. While some believe that Saylor acted illegally, others believe that it is a part of the government’s vendetta against Bitcoiners and crypto holders. 

    Why DC Is Suing Michael Saylor

    The Bitcoin maximalist is accused of evading over $25 million in taxes. According to Racine, Saylor claimed to live in the state of Florida. Florida does not have any state income taxes. However, according to the lawsuit, Saylor lived in multiple residences in the District of Columbia.

    Importantly, Saylor’s company Microstrategy is also a defendant in the case. According to the lawsuit, Microstrategy had information that pointed out that Saylor resided in the District of Columbia. However, they refused to share the information. 

    According to the lawsuit, Saylor also claimed to live in the state of Virginia. However, several of his social media posts have mentioned his properties in DC as home. 

    Opinions Split On Saylor Lawsuit

    Michael Saylor has always been a controversial figure in the industry. Being a Bitcoin maximalist, he has often had extreme views on the state of crypto. Therefore, it is no surprise that the tax fraud allegation against him is also a controversial topic.

    Neil Jacobs, the co-host of the Inside Bitcoin podcast, believes that Saylor has meticulously kept information regarding when he lived in Florida. To him, this is a continuation of the government’s war on crypto and Bitcoiners. 

    On the other hand, major crypto influencer and trader, Clark, believes that the lawsuit has changed his opinion of Saylor. He does not believe that he is part of the crypto future.

    Nidhish is a technology enthusiast, whose aim is to find elegant technical solutions to solve some of society’s biggest issues. He is a firm believer of decentralization and wants to work on the mainstream adoption of Blockchain. He is also big into almost every popular sports and loves to converse on a wide variety of topics.

    The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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