CryptoQuant: Strategy may face tax liability in the future or be forced to liquidate Bitcoin to meet tax obligations

On July 10th, CryptoQuant stated in a post that, based on the documents submitted by MicroStrategy (MSTR) to the U.S. SEC, as of June 30, 2025, the company holds 597,000 bitcoins which were purchased for $42.4 billion and currently have a value of $64.4 billion. However, under the new accounting standard ASU 2023-08, companies are obligated to report their bitcoin assets at fair value, even if they are not actually sold. This could lead to the triggering of a 15% Corporate Alternative Minimum Tax (CAMT) starting from 2026. MicroStrategy explicitly stated in the document that the company "might need to liquidate a part of its bitcoin holdings or issue additional debt or equity securities to raise sufficient cash to fulfill its tax obligations." This indicates that tax pressure may force MicroStrategy to sell some of its bitcoin holdings in the future to deal with the actual tax liability resulting from unrealized gains.