Anthony Pompliano proposes steps to spur Bitcoin adoption in the U.S
Pompliano urges Trump to adopt pro-Bitcoin reforms
Anthony Pompliano, founder and CEO of Professional Capital Management and a prominent Bitcoin advocate, outlined three strategic measures for President-elect Donald Trump to accelerate Bitcoin adoption in the United States.
In his video on X, Pompliano presented key steps to position Trump as a leader in the digital revolution, capable of turning the U.S. into the world’s largest cryptocurrency hub.
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Proposal to repeal SAB 121
Pompliano’s first recommendation was to repeal the SEC’s Staff Accounting Bulletin No. 121 (SAB 121), which currently restricts banks from holding digital assets by requiring them to classify these holdings as liabilities. According to him, removing this regulatory barrier would allow banks to securely hold Bitcoin on behalf of their clients, driving institutional demand for cryptocurrency. Pompliano emphasized that incorporating Bitcoin into financial institutions' balance sheets would strengthen the digital asset ecosystem and provide U.S. banks with a competitive advantage in the global cryptocurrency market.
National Bitcoin reserve initiative
Another significant recommendation was to establish a national Bitcoin reserve. Pompliano noted that the U.S. government already holds around 200,000 Bitcoin, which could serve as a foundation for building such a reserve. He suggested that increasing the government’s Bitcoin holdings, rather than liquidating them, would be a strategic move, highlighting Bitcoin’s utility as a store of value and an inflation hedge.
The need for tax reforms
In addition to these recommendations, Pompliano called on Trump to implement tax reforms to change how Bitcoin is treated under existing tax laws. He pointed out that Bitcoin’s classification as property currently subjects transactions to capital gains tax, creating obstacles for businesses and consumers using cryptocurrency for everyday payments. According to Pompliano, adjustments to the tax code could eliminate these barriers and foster broader adoption.
Global trends and conclusions
Meanwhile, Matt Hougan, Chief Investment Officer at Bitwise, recently predicted that hundreds of corporations will purchase Bitcoin for their treasuries over the next 12 to 18 months, describing this trend as a "megatrend" that could significantly elevate the entire Bitcoin market.
In conclusion, Pompliano emphasized that his proposed measures could position the U.S. at the forefront of the global digital currency revolution, potentially shaping the country’s economic future.
