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if you are a business with a large collection of offshore dollars that cannot be brought onshore due to reparation taxation the easiest thing to do is convert the offshore balance to bitcoin.

i have a sneaking suspicion that this is the main reason Microstrategy originally did their first bitcoin purchase.

they avoided all capital and currency controls and reparation tax.
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Byzantine 2y ago

the reason i think MSTR did this for "repatriation" reasons is that onshore cash is usually held in t-bills and offshore cash is held in dollar denominated euro dollar bank accounts and michael has said that he used binance to make the initial purchases https://youtu.be/Jb48Q5e4WVg

which would only have been done with overseas dollars so he definitely moved dollars that could not easily be repatriated into bitcoin.

he may have had a melting ice cube but he had foreign dollars and this was his way of getting around a repatriation tax.

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