MicroStrategy Faces Tax Questions

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In a world where transparency and innovation drive success, Food Flow is here to inspire entrepreneurs with insights on leveraging technology to transform the food industry. Combining blockchain and cutting-edge strategies, we will show you how to track food, build trust, and scale your business.

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In this edition you will find.

• Bitcoin Bull Market Faces Risk as Key Indicators Signal Cycle Top

• MicroStrategy Faces Tax Questions on $19B Unrealized Bitcoin Gains

• Crypto Czar David Sacks Compares Trump's Memecoin to Collectibles Amid Controversy

Bitcoin Bull Market Faces Risk as Key Indicators Signal Cycle Top

Bitcoin's bull market may be nearing a critical turning point, according to CryptoQuant's Index of Bitcoin Cycle Indicators (IBCI), which has entered the "distribution region" for the first time in 8 months. This basket of seven onchain metrics, including the Puell Multiple and Net Unrealized Profit/Loss (NUPL), suggests a potential cycle top, though not yet confirmed. Historically, reaching this level precedes market corrections or bear phases, though analysts note room for further growth before a definitive peak. With BTC price targets of $150,000 for 2025, some warn of a possible dip to $90,000 before future highs.

MicroStrategy Faces Tax Questions on $19B Unrealized Bitcoin Gains

MicroStrategy, the largest corporate holder of Bitcoin, may owe federal income taxes on its $19.3 billion unrealized BTC gains due to the Inflation Reduction Act's corporate alternative minimum tax (CAMT). This law imposes a 15% tax on adjusted financial statement income (AFSI) for corporations averaging over $1 billion in AFSI, potentially affecting crypto holdings. Despite lobbying efforts by MicroStrategy and Coinbase to exclude unrealized crypto gains from CAMT, the IRS has yet to finalize exemptions. As new crypto tax regulations tighten oversight, starting in 2025, centralized exchanges will be required to report digital asset transactions, raising compliance concerns among investors and decentralized platforms.

Crypto Czar David Sacks Compares Trump's Memecoin to Collectibles Amid Controversy

White House crypto czar David Sacks described President Trump’s memecoin as a collectible akin to a baseball card, dismissing conflict-of-interest claims during a Fox News interview. Launched on Solana days before Trump’s inauguration, the TRUMP memecoin initially soared to $73.43 before plummeting to $33 following Trump’s admission of limited knowledge about it. Sacks criticized the Biden administration's lack of crypto regulatory clarity, which he claims drove companies offshore, and highlighted Trump’s executive order aiming to make the U.S. a crypto leader. Despite drawing new investors, the memecoin faces scrutiny for potential conflicts of interest and its speculative nature.

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