Bitcoin rally hands Strategy a $4.1 billion tax benefit
- —Strategy estimated a $4.1 billion income-tax benefit as Bitcoin's fair value rose above cost
- —The company reversed a deferred tax asset and released the associated valuation allowance
- —Strategy held 848,000 BTC at an average cost of $75,440.70 including fees as of Oct. 4
- —The management-prepared figures were neither audited nor reviewed by KPMG
Why it matters: A large holder's cost-basis crossing changes its tax accounting and can shape future buying or selling decisions.
Source: CryptoSlate