Important Signal for Bitcoin (BTC): Due to concerns raised by tax threats, Strategy Company may start selling its BTC holdings.

Bitcoin (BTC) surged to 117,000 USD, setting a new historical high, but unfavourable information emerged from the market. On Thursday (July 10), shares of Strategy Company rose slightly as the company revealed that if the unrealized gains of its digital asset reserves are subject to the Corporate Alternative Minimum Tax (CAMT), it may be forced to sell a portion of its Bitcoin holdings.

Unrealized profits from holding Bitcoin may face a 15% tax

CryptoQuant analysts wrote in a report: “Their strategy is bold and has achieved great success so far. However, their own documents show that this is a high-risk, high-reward strategy. If Bitcoin collapses, credit dries up, or taxes are hit, this strategy could fail.”

According to the 8-K form submitted by the company to the U.S. Securities and Exchange Commission (SEC) on Monday, Strategy reiterated that the over $65 billion in Bitcoin it holds may be subject to CAMT tax starting from 2026.

The document reveals the risks associated with Strategy’s Bitcoin strategy, including new accounting rules that require the company to report unsold Bitcoin at fair value.

The document states: “In light of the scale of our unrealized gains in digital assets as of June 30, 2025, we anticipate that we will need to pay CAMT starting from the 2026 tax year.”

CAMT is a minimum tax of 15% levied on the adjusted financial statement income of large enterprises (AFSI). This tax applies to enterprises with an average AFSI exceeding 1 billion Australian dollars for three consecutive years.

The strategy points out that due to unrealized gains possibly requiring a 15% tax, it may be forced to sell some of its Bitcoin holdings if it cannot raise funds to fulfill these obligations.

The strategy added in the document: “We may need to liquidate some Bitcoin holdings or issue additional debt or equity securities to raise sufficient cash to meet our tax obligations.”

Strategy also expressed concerns about Bitcoin’s current profitability, as the company realized an unrealized gain of $14 billion in the second quarter. The company stated that its holdings of Bitcoin may experience unrealized losses in the future, pointing out the $5.9 billion loss reported at the end of the first quarter.

Similarly, the company also mentioned that its deferred tax liabilities of $6.3 billion from the $14 billion unrealized gains at the end of the second quarter. The company also stated that as of June 30, its outstanding debt was $8.24 billion, plus the dividends on preferred stock.

CryptoQuant analysts point out that despite the impressive price trend of Bitcoin, it still represents a heavy cash burden.

According to the supplement from Strategy, the revenue from its software business is insufficient to support its operations. Therefore, the company plans to use the funds from issuing additional shares to fill the funding gap. However, if the debt financing plan fails to meet its goals, the company may liquidate part of its Bitcoin holdings. Such sales may occur at prices lower than its average purchase price for Bitcoin, which could affect its overall financial operations.

The document further states: “Any such sale of Bitcoin could have a significant adverse effect on our operating performance and financial condition, and may impair our ability to obtain additional equity or debt financing in the future.”

Strategy further stated that it remains committed to acquiring Bitcoin as part of its long-term plan, depending on factors such as the price of BTC, regulatory changes, and liquidity conditions. Strategy holds 597,325 BTC, accounting for 2.84% of the total supply of 21 million Bitcoins.

As the company issues a risk warning, multiple companies are adjusting their financial plans to adopt Bitcoin. Currently, over 140 listed companies hold BTC as a financial asset, and the substantial growth of unrealized profits could lead to tax obligations similar to those of Strategy.

MSTR rose 1% on Thursday, but the increase was smaller compared to Bitcoin.