Michael Saylor Criticized Over Position on Bitcoin Regulation
- Heidi describes Saylor’s regulation claims for Bitcoin as a fallacy.
- Saylor’s sincerity over BTC regulation is questioned considering his ongoing tax evasion litigation.
Crypto Tips YouTube co-host Heidi has criticized the former CEO of MicroStrategy, Michael Saylor, in calling for increased regulation of cryptocurrencies. Heidi questioned Saylor’s sincerity over his position despite being accused of tax evasion.
In a YouTube video, Heidi, an unapologetic critic of Saylor, told viewers that Saylor’s activities or pronouncements cannot determine Bitcoin’s future. According to her, the renowned Bitcoin investor claims to be a Bitcoin maximalist but contradicts himself by acting as one of the biggest supporters of regulation who thinks Bitcoin will not survive without the support of the U.S. government.
She describes Saylor’s regulatory claims for Bitcoin as a fallacy that only those new to the cryptocurrency industry can accommodate. Heidi believes that if Saylor is truly pro-regulation, he should not resist the government’s attempt to recover over $25 million from him over an allegation of evading income tax.
On March 2, 2023, a District of Columbia judge dismissed Saylor’s application to dismiss the tax evasion suit leveled against him. It is a suit filed in August 2022, accusing the renowned investor of failing to pay income tax to the District of Columbia despite living there for ten years. The allegation also covers Saylor’s yachts, which are claimed to have docked on the Potomac and Georgetown waterfronts during this period.
The judge also dismissed an allegation against Saylor and MicroStrategy by a whistleblower who claimed that both parties conspired to transgress the False Claims Act of the District of Columbia. According to the whistleblower, Saylor and MicroStrategy deliberately made misleading statements about the investor’s residence.
Saylor remains adamant over his argument that he is not a resident of the District of Columbia. He told reporters he would continue to defend against the claims by the District’s Attorney General’s office until it reached an appropriate resolution.
Heidi thinks things could get worse for Saylor if he is found guilty of the charges. She believes that on top of the $25 million, the prosecutors may seek payments on back taxes, damages, fees, and other related charges.