Michael Saylor, the executive chairman of Strategy, confirmed on Monday that his crypto and software company has purchased 1,229 Bitcoin for approximately $108 million.
The purchase comes towards the end of a difficult 2025 for cryptocurrencies, many of which are facing a loss for the year. Despite Mr Saylor's purchase, Bitcoin traded at about $87,500 on Monday, down more than 18 per cent from a peak of above $123,000 in October.
That month, Mr Saylor forecast that Bitcoin would hit $150,000 by the end of the year. Mr Saylor, whose company was already the world's biggest corporate Bitcoin holder, explained the purchase on X. “Strategy has acquired 1,229 Bitcoin for $108.8 million at $88,568 per Bitcoin and has achieved BTC Yield of 23.2% YTD 2025,” he wrote.
According to a US Security and Exchange Commission filing, the purchase took place on Friday. Mr Saylor is a long-time investor in Bitcoin, the granddaddy of cryptocurrencies. During Binance Blockchain Week in Dubai this month, he maintained a bullish outlook for Bitcoin despite a volatile year.
“There's volatility in the market, there's sound and fury, there's scepticism, but there [was] scepticism about electricity, automobiles and airplanes,” Mr Saylor said. “There's always going to be scepticism of the new … I wouldn't be afraid,” he added. “Don't run away from the fire, run towards the fire.”
Mr Saylor is a leading voice in digital currency and crypto circles. A former Air Force officer, he consulted on “construction computer simulations” for companies like DuPont, Dow and Exxon before launching Strategy in 1989.
Strategy provides “cloud-native, AI-powered enterprise analytics software” with a particular focus on Bitcoin applications and strategy. The company now describes itself as the “first and largest Bitcoin Treasury company”, as well as being among the largest “independent, publicly traded business intelligence” companies.
The crypto industry was given a boost this year thanks to the Trump administration's embrace of the technology and a hands-off approach in terms of regulation. But scepticism lingers, with some critics saying the decentralised technology is often used by criminals or to dodge paying taxes.
Crypto mining, the process by which digital assets are obtained and secured through a blockchain network, has also been blamed for creating a surge in electricity demand. Hacks and technical glitches have also resulted in the theft of billions in digital assets, running contrary to the notion that crypto assets are highly secure.
Yet crypto proponents are quick to point out that fiat currencies are also far from perfect, and that crypto can potentially reduce the friction of banking that sometimes create obstacles for people who do not have a bank account.
They also point out that various groups abusing cryptocurrencies have been prosecuted, and that the sector is far from being the Wild West portrayed by sceptics and critics.
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
The biog
Age: 30
Position: Senior lab superintendent at Emirates Global Aluminium
Education: Bachelor of science in chemical engineering, post graduate degree in light metal reduction technology
Favourite part of job: The challenge, because it is challenging
Favourite quote: “Be the change you wish to see in the world,” Gandi
