Strategy Inc., the software company that reinvented itself as a Bitcoin treasury, said it no longer expects to be subject to the US corporate alternative minimum tax (CAMT) following new federal guidance.
Strategy Exempt from Corporate Minimum Tax After Treasury Guidance on Bitcoin Gains
2 October 2025 - 15:55 CEST
In a post on X, CEO and founder Michael Saylor said the company would avoid a 15% tax on unrealized gains from digital asset holdings. The CAMT, enacted as part of the 2022 Inflation Reduction Act, is designed to ensure that large corporations pay a minimum level of federal tax regardless of deductions or accounting treatments.
On Tuesday, the Treasury Department and Internal Revenue Service (IRS) issued interim rules clarifying that unrealized gains and losses on cryptocurrencies or other digital asset holdings do not need to be included in the CAMT calculation.
Sigh of relief
Strategy had anticipated a significant cash tax liability starting in 2026 due to the rise in Bitcoin prices this year. The firm reported an $8.1bn unrealized gain on its Bitcoin holdings for the six months ending 30 Jun, following the adoption of fair-value accounting standards in January. Strategy currently holds about $74.6bn worth of Bitcoin based on average of current market prices.
Flood of cash
Analysts said the adjustment eliminates potentially multibillion-dollar liabilities for crypto firms, as under previous rules companies had to recognize digital asset gains without the ability to recover losses.
“Thanks to yesterday’s action on behalf of the IRS, that potential scenario is no longer on the table,” said Lance Vitanza, managing director and senior analyst at TD Cowen in a comment to Bloomberg.
Strategy shares rose 5% to $338.41 on Wednesday, the fourth consecutive daily gain, and were trading up during market open on Thursday. The stock has more than doubled in the past year.
