I didn't realize this but MSTR got what they wanted from FASB in the 'Fair Value' accounting rule change. However, so far (passed in December '23) Have not used it. It would have gotten them added to the sp500. Forced millions of SP500 ETF investors to passively by and hold MSTR, pumped their stock price, forced a short squeeze and enabled even more convertible bonds for buying BTC.

Why?

Because they could/would be neverendingly on the hook for billions in unrealized gains.

Fuk'n gooberment. Gives with one hand takes with the other. Not sure what the right move is for them. Get PWND in taxes but get more BTC in the meantime while they are still the earliest of early adoptors and can massively extend their lead. Or stave off the tax man without getting on SP500.

My thoughts:

The tax man is going to get his cut eventually; they will make some other rule to make them pay up. Taxman aint going to let MSTR stack fat SATs forever without bending them over. Might as well get as much BTC now as you can before it's millions of USD per BTC.