BLOWING THE WHISTLE

D.C. Attorney General Sues Bitcoin Billionaire Michael Saylor for Alleged 15-Year Tax Fraud

Saylor is known for making massive investment in Bitcoin, which has plummeted in value recently.

Michael Saylor, Bitcoin evangelist and chairman of publicly traded business intelligence firm MicroStrategy, is being sued by the D.C. attorney general over an alleged 15-year tax fraud scheme. According to allegations made in a 2021 whistleblower lawsuit, which spurred the AG’s action this month, “Saylor engaged in an elaborate scheme to create the illusion that he lived in Florida, a state without personal income tax,” when in reality he has spent most of his time in D.C. A press release announcing the suit—which alleges that MicroStrategy conspired to aid Saylor’s tax evasion—said that unpaid taxes and penalties could exceed $100 million. Saylor has been known for placing massive bets on Bitcoin through MicroStrategy, though as of last month the firm’s holdings had plummeted by over $3 billion. The company’s stock has tanked 67 percent in the past year as well. In a statement, Saylor said, “Although MicroStrategy is based in Virginia, Florida is where I live, vote, and have reported for jury duty, and it is at the center of my personal and family life. I respectfully disagree with the position of the District of Columbia.” A MicroStrategy spokesperson called the dispute a “personal tax matter,” adding that it did not conspire with Saylor or oversee his tax obligations.