$BTC

A covert attack on Bitcoin's reserves is underway.

Buried in the Inflation Reduction Act,

the United States issued a 15% corporate alternative minimum tax (CAMT).

Don't rely on profits.

It depends on book income,

the numbers that companies show to shareholders.

And thanks to a new accounting rule (ASU 2023-08), which now includes unrealized "cryptocurrency" gains.

This means that if a U.S. company owns Bitcoin and its price rises

without selling it,

it is still taxed as if it had sold it. Phantom income.

Real tax.

Senator Lummis issued a warning to the Treasury Department

Address this now.

Use the authority in §56A(c)(15) to exclude unrealized cryptocurrency gains from AFSI calculations.

or risk driving U.S. digital asset leadership abroad.

This is bigger than a single tax line.

It's about whether Bitcoin can sit on corporate balance sheets without being penalized for its existence.

Hold Bitcoin. You're taxed.

Sell Bitcoin. You're taxed.