For the first time ever, Michael Saylor and Microstrategy sold off some BTC this December. Is Michael in trouble? Is Microstrategy going to sell more?
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44 Comments
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Buy high, sell low! 😂
KittySoup is next George 🐈🔨
As per IRS rules, one cannot re-purchase until after 30-days. If a re-purchase happens prior to that, the IRS treats it as though the original sale never happened. So, without a 30+ day period, there is no harvesting of any tax savings.
George, you should have released this as a short video because most (younger) people have the attention span of a goldfish these days. We don't need any more FUD lol. Most of gen-z struggle to make it to 3 mins of any video , never mind watch something like a Lex Fridman podcast. Anyway, have a happy new year bud , despite this video created for cheap views 🙂
As opposed to Being pro FTX George?
It’s first in, first out. The BTC he sold was his oldest buys. I think that’s how it works, but they file quarterly I’m sure. Not sure how FIFO works exactly, especially in crypto. The BTC you sell today could really be profitable if held long enough to shift it to long term gains instead of short. I’m no CPA.
You can’t harvest more 3000$ if you lost 20k in taxes. It’ carry over the next tax season.
30-day rule does not apply to crypto only regular common stock you can buy it right back, untill they do away with it
The longer you leave the US dollar in the fight the longer the government has to delay Bitcoins rise, they're taking Tesla down as we speak
Capital loss is used to write off capital gains only. With no capital gain then the maximum loss can be claimed is limited to a small fixed amount…
Buy high sell low 🥱
remember crypto is a cyclical market there are low lows where you think the roof is falling in on you and there are high highs where you think it can't possibly be this good we are in the stage of the lows buckle up because when the Fed pivots crypto will be like a rocket, HODL don't let the whales shake you out
Use a more accurate title, don't be that guy
Why not sold more? I guess because the lionshare of his BTC holdings were not bought in 2022 so he cannot profit from tax anymore there.
Loving the shorter videos
A realized loss. Nuff said.
Click bite of the year lads! Happy new year.
saylor sold wihtout tweeting🤣
If btc drops 2 4k I wonder how Is George is going 2 take it
He only sold a little to freak the market out so he can buy more after a 15-20% drop
that's ok, I bought more today.
George, did you hear that SBF may have bribed the SEC?
george sounds deep today, must have eaten some game meat. sounds like he has 3 testicles.
Everytime I put money in I swear
Bitcoins shitting its pants right now
Watch altcoin daily. He explains it pretty well. Tax harvest then he bought more. Immediately
This man is a legend, makes everyone who has realised losses feel like you only spent money on McDonald's compared to his realised loss.
Quit giving false hope! Crypto will be fucked for a while!
buy high sell low
Tax purposes
BINANCE IS OWNED BY CHINA GOVERNMENT.
Securities are the only investments eligible for tax harvesting. BTC is not a security. It does seem ironic that alt coins can use tax harvesting but that would mean they are securities.
Definitely for taxes
Maybe want to buy the dip with cash
but he bough back
He buys it goes down he sells????
Where is Rene Montenegro telling us its going to .50c?
George he doesn’t want to tank the market….
You realize they make money on gbtc not on btc? It dosnt matter where they buy. GBtc is their thing. He protects btc because he see actually danger of his business burn down. He is scared of attention shifted to blockchains and tech that is better than btc. Thats why he tweets like mental person about ethics of money and cyber hornets. He lost it completely. Now for gbtc to be profitable money cant outflow btc to alts, thats his biggest nightmare.
GAME OVER MAN !
Half of these comments are exactly what George says in the video.
Do people only listen for 30 seconds or less before commenting? Or just read the title and not even watch?
People sell around this time and buy again after dec 31st
I wonder does short vs long term tax apply to commodities?
Keep em honest bro