How Trump Could Skyrocket Bitcoin Adoption
Bitcoin advocate and entrepreneur Anthony Pompliano has shared his vision for how incoming U.S. President Donald Trump can play a key role in driving mainstream adoption and value of Bitcoin.
In a brief video on X, Pompliano laid out three key actions Trump could take to significantly increase Bitcoin’s role in the U.S. economy.
3 Ways Donald Trump Helps Bitcoin Surge
First time changing Pompliano ask Because of the repeal of a controversial An accounting rule called SAB-121. The rule currently requires banks to treat digital assets such as Bitcoin as liabilities on their balance sheets.
“If you’re a bank, you don’t want to have custody of assets that are considered liabilities,” Pompliano explains.
Removing this rule will encourage Banks hold Bitcoinmaking assets safer and more attractive to institutional investment.
Pompliano’s second proposal was to create a National Bitcoin Strategic Reserve.
“The U.S. government will hold more Bitcoin,” he said, referring to the $200,000 already held on the federal balance sheet.
he suggested The United States should actively buy more Bitcoinpositioning it as a long-term economic asset.
“Having more Bitcoin in the United States is good for the U.S. economy in the long run,” he added.
Pompliano emphasized Bitcoin benefits for individuals and businessesand then extended to the country itself. Interestingly, there is currently a growing global debate surrounding Bitcoin’s role as a national reserve asset. in fact it is Reports say 13 U.S. states are moving forward With Bitcoin Reserve Plan.
Finally, Pompliano suggested changing the tax treatment of Bitcoin. Currently, Bitcoin is classified as property, which means it triggers capital gains tax when used to purchase goods or services, a treatment he believes is unfair.
“It’s crazy, you can’t do this with dollars,” Pompliano said.
Instead, he suggested treating Bitcoin like any other currency, with no capital gains tax payable on transactions. This will make it more suitable for daily use.
“If Trump does these three things, Bitcoin will suddenly go very, very high,” Pompliano said.
The recommendations reflect a broader push for a clearer regulatory framework, which could boost Bitcoin’s growth. Pompliano believes that by repealing SAB-121, establishing strategic reserves, and changing tax treatment, Bitcoin could see a significant rise.
Pompliano’s comments come amid eager anticipation from the crypto community Waiting for the first ever “crypto ball”, It is scheduled to take place on Friday, January 17th. Although Trump himself is not expected to attend, cryptocurrency czar David Sacks will host the inaugural ball.
Additionally, Trump is expected to sign a major executive order supporting cryptocurrencies on his first day in office.
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