Microstrategy is probably the most well-known public company that invests in bitcoin. Initially, its activities were related to the development of analytical software. However, now anyone hardly remembers what the main activity of the company is because all the news related to Microstrategy about bitcoin. According to the latest data, the company already has more than 90,000 coins on its balance sheet. Microstrategy made some of the investments thanks to borrowed funds on the placed bonds. not long ago, the company announced it would continue to buy BTC. Crypto bull Michael Saylor borrowed $500 million through junk bonds to plow into the cryptocurrency. The maturity of the bonds will expire in 2028, the yield is $6,125 per annum. As collateral for the bonds, the company offers the company's assets and all purchased bitcoin coins during and after their placement but not those coins that are already on the company's balance sheet.
SEC Commissioner Hester Peirce has once again urged regulators to take a step back from attempting to overregulate the crypto space. He believes that attempts of US officials to place stricter rules on the cryptocurrency market risks dampening innovation and investment. "I am concerned that the initial reaction of a regulator is always to say 'I want to grab hold of this and make it like the markets I already regulate. I am not sure that's going to be great for innovation." According to her, the first reaction of the commission was to regulate a new segment and make it similar to those segments that are already regulated, which is not quite correct. She also noted that the regulation should take place at the state level. Thus, the SEC is still thinking about the legislative rules to regulate the cryptocurrency market. Earlier the Treasury Department announced that it would require any transfer worth $10,000 or more to be reported to the Internal Revenue Service. "Cryptocurrency already poses a significant detection problem by facilitating illegal activity broadly including tax evasion," the Treasury Department said. "This is why the President's proposal includes additional resources for the IRS to address the growth of cryptoassets," the department added. Further, as with cash transactions, businesses that receive cryptoassets with a fair market value of more than $10,000 would also be reported on." Many experts believe that Washington pays too much attention to the crypto market because of its profitability. It has grown significantly over the past year with many investors using bitcoin for tax evasion. Since the tax issue in the United States is now one of the most acute. So, it is no surprising that the government is going to tighten regulations and receive tax revenues to the budget from cryptocurrency transactions. Currently, there are no official statements on this issue. That is, it is not clear what exactly the new rules of circulation and taxation will be. We can conclude that in general, bitcoin has risen in recent days amid positive fundamental factors but it still lacks strong derivers to resume the upward movement. The future trajectory of BTC will largely depend on actions of the US and China.