Pompliano to Trump: Embrace Bitcoin for a Stronger U.S. Economy
Famed investor and Bitcoin advocate Anthony Pompliano has laid out a bold vision for President-elect Donald Trump, urging him to take key steps to make Bitcoin a central pillar of U.S. economic strategy. Highlighting Bitcoin’s potential to bolster the national economy, Pompliano proposed three specific actions that could position Trump as the “first Bitcoin president.”
1. Repeal SAB 121: Empowering Banks to Hold Bitcoin
In a video released earlier today, Pompliano, CEO of Professional Capital Management, pinpointed Staff Accounting Bulletin No. 121 (SAB 121) as a regulatory hurdle stifling Bitcoin’s adoption. The rule currently forces banks to classify digital assets as liabilities on their balance sheets, deterring them from holding Bitcoin for clients.
“Repealing SAB 121 would unleash a tidal wave of demand for Bitcoin,” Pompliano emphasized, arguing that banks could safely custody the digital asset on behalf of their customers, significantly boosting its legitimacy and accessibility.
2. Build a Strategic Bitcoin Reserve
Pompliano’s second recommendation involves establishing a national Bitcoin reserve, a move Trump hinted at during his previous administration. The U.S. government currently holds approximately 200,000 BTC, mainly from confiscations.
Pompliano suggested increasing this reserve, saying, “It’s good for the U.S. economy over the long run—for the United States to have more Bitcoin.” He compared Bitcoin’s value to that of gold, explaining that a robust Bitcoin reserve could safeguard the nation’s economic future and enhance its position in the global digital economy.
3. Reform Tax Policies for Bitcoin Transactions
Lastly, Pompliano called for overhauling the tax code to promote Bitcoin’s everyday use. Under current laws, Bitcoin is classified as property, subjecting every transaction to capital gains tax. This creates a significant barrier to its adoption as a practical payment method.
Changing this classification, Pompliano argued, would “remove friction” and enable smoother integration of Bitcoin into the economy. “If Bitcoin is good for individuals and corporations, it’s going to be good for the country too,” he said.
A Path to U.S. Leadership in the Digital Economy
Pompliano believes these measures could rapidly accelerate Bitcoin adoption and secure the United States’ leadership in the evolving global economy. “If we take these three steps, we’ll see Bitcoin flourish, and the U.S. will lead the way,” he concluded.
With Bitcoin gaining increasing acceptance worldwide, Pompliano’s recommendations offer a compelling roadmap for leveraging the digital asset to strengthen the U.S. economy. Whether Trump embraces this vision remains to be seen, but the potential implications for the economy are undeniable.
SEO Keywords: Bitcoin, Donald Trump, U.S. economy, Bitcoin president, crypto adoption, SAB 121, Bitcoin reserve, Bitcoin tax reform, Anthony Pompliano, digital currency.
