The Attorney General of the District of Columbia has said publicly that his agency would file a tax fraud action against MicroStrategy and its former Bitcoin (BTC) bull CEO Michael Saylor. However, the company labelled the complaint “false” and pledged to “aggressively fight” against what it termed an “overreach.”
MicroStrategy owns a significant portion of their balance sheet in BTC and has become the poster child for BTC investment by corporations. Meanwhile, Saylor has emerged as a leading advocate for Bitcoin Core on Twitter. He just resigned as CEO and is now the organization’s Chairman.
Racine said: “With this action, we’re warning citizens and employers that if they love living in our beautiful city but refuse to pay taxes, we’ll hold them responsible.”
The Attorney General asserts that Saylor lived in a luxurious apartment in the Georgetown neighbourhood and docked multiple boats on the Potomac riverside in Washington, D.C. The AG believes that Saylor has resided in D.C. since 2005.
Saylor remained unaffected, disputed the charges, and declared his determination to defend himself in court.
Saylor was quoted by Bloomberg as saying: “I disagree with DC’s attitude and hope for a fair judicial ruling.” While MicroStrategy is headquartered in Virginia, I consider Florida to be home. It is where I cast my ballot and have served my jury duty.
Saylor claimed that he moved from Virginia to Miami Beach, Florida, ten years ago because he “purchased a historic home there.”
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.