The Wolf Den #367 - Mess With The Bull, Get The Horns!
thewolfden.substack.com
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin - up to $1200 worth. I really encourage you to check them out.Regulators have threatened to tax the unrealized capital gains of billionaires, an unsettling concept for investors in every tax bracket. Policies that target a select few rarely stay that way - they tend to trickle down and affect everyone in society. Further, disincentivizing entrepreneurs and innovators is a dead end street - people should not be punished for their success, but should be celebrated for their impact on the world.Elon Musk, the richest man in the world and the main target of the policy, took to Twitter and proposed an astonishing poll.This is what he presented to his 62.8M followers: “Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock. Do you support this?”Interpret this how you will, but to me it sounds like a big F*** YOU to the regulators pushing this new idea. The poll received 3,519,252 votes, with “Yes” receiving 57.9% of the vote and “No” receiving 42.1% of the votes.To silence the doubters, Musk added, “I will abide by the results of this poll, whichever way it goes. Note, I do not take a cash salary or bonus from anywhere.” And to put the cherry on top, Musk ended with this, “I only have stock, thus the only way for me to pay taxes personally is to sell stock.” And then “abide(n).”Musk is making his position explicitly clear - if you mess with the bull, you get the horns. The last thing the U.S. government wants is one man liquidating $28B of stock and unsettling a market that they are so desperately trying to prop up. They also obviously do not want the decision behind this stunt decided by teens, bots, and trolls hungry to throw a wrench in the system.Tesla shareholders may not be thrilled with their fearless leader, but this is explicitly what the FED asked for. How else would Musk, or any investor, pay such a tax without having to sell what they own? As stated, he does not take a salary or bonus - so the only way to pay the monster tax bill would be to sell his stock to cover it. Ultimately, billionaires will be forced to take the market down.Bitcoiners took advantage of the chaos, proposing Musk buy Bitcoin with his realized gains from selling stock. This is highly unlikely.We have never seen anything like this before, so be cautious trading on the news. For me, this is just another reason why I have chosen to opt-out with exposure to crypto, the last free market.Bitcoin fixes this!In This Issue:Mess With The Bull, Get The Horns!Bitcoin Thoughts And AnalysisAltcoin ChartsA DeFi Warning From CZMayors Are Endorsing BitcoinOpenSea Hits $10B in VolumeThank You So Much!My Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO
The Wolf Den #367 - Mess With The Bull, Get The Horns!
The Wolf Den #367 - Mess With The Bull, Get…
The Wolf Den #367 - Mess With The Bull, Get The Horns!
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin - up to $1200 worth. I really encourage you to check them out.Regulators have threatened to tax the unrealized capital gains of billionaires, an unsettling concept for investors in every tax bracket. Policies that target a select few rarely stay that way - they tend to trickle down and affect everyone in society. Further, disincentivizing entrepreneurs and innovators is a dead end street - people should not be punished for their success, but should be celebrated for their impact on the world.Elon Musk, the richest man in the world and the main target of the policy, took to Twitter and proposed an astonishing poll.This is what he presented to his 62.8M followers: “Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock. Do you support this?”Interpret this how you will, but to me it sounds like a big F*** YOU to the regulators pushing this new idea. The poll received 3,519,252 votes, with “Yes” receiving 57.9% of the vote and “No” receiving 42.1% of the votes.To silence the doubters, Musk added, “I will abide by the results of this poll, whichever way it goes. Note, I do not take a cash salary or bonus from anywhere.” And to put the cherry on top, Musk ended with this, “I only have stock, thus the only way for me to pay taxes personally is to sell stock.” And then “abide(n).”Musk is making his position explicitly clear - if you mess with the bull, you get the horns. The last thing the U.S. government wants is one man liquidating $28B of stock and unsettling a market that they are so desperately trying to prop up. They also obviously do not want the decision behind this stunt decided by teens, bots, and trolls hungry to throw a wrench in the system.Tesla shareholders may not be thrilled with their fearless leader, but this is explicitly what the FED asked for. How else would Musk, or any investor, pay such a tax without having to sell what they own? As stated, he does not take a salary or bonus - so the only way to pay the monster tax bill would be to sell his stock to cover it. Ultimately, billionaires will be forced to take the market down.Bitcoiners took advantage of the chaos, proposing Musk buy Bitcoin with his realized gains from selling stock. This is highly unlikely.We have never seen anything like this before, so be cautious trading on the news. For me, this is just another reason why I have chosen to opt-out with exposure to crypto, the last free market.Bitcoin fixes this!In This Issue:Mess With The Bull, Get The Horns!Bitcoin Thoughts And AnalysisAltcoin ChartsA DeFi Warning From CZMayors Are Endorsing BitcoinOpenSea Hits $10B in VolumeThank You So Much!My Recommended Platforms And ToolsIF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.CO