The Bitcoin evangelist has thrown down the gauntlet with a proposal for President-elect Donald Trump to help Bitcoin go mainstream in the U.S.
In a new video on X Pompliano laid out three game-changing strategies that could make Trump a pioneer in the crypto industry.
Here are 3 things Donald Trump should do for bitcoin when he gets into office. pic.twitter.com/ksqefXgYLP
— Anthony Pompliano 🌪 (@APompliano) January 14, 2025
Pompliano’s three crypto moves
First up on Pompliano’s wishlist? He wants to see the repeal of SAB-121, the accounting rule that currently treats digital assets like Bitcoin as liabilities on bank balance sheets.
Not exactly a warm welcome for banks looking to adopt crypto, and Pompliano also pointed out that banks aren’t keen on holding onto something that looks bad on their books.
By scrapping this rule, banks might actually start holding Bitcoin, making it more appealing for institutional investors.
Next, he’s calling for a National Bitcoin Strategic Reserve, because Pompliano believes the U.S. government should be stockpiling more Bitcoin.
Currently, there’s a relatively big pile of seized Bitcoin, sitting on the federal balance sheet, and he argues that increasing this stash would position Bitcoin as a key economic asset for the long haul.
It’s good for the US economy, he told, highlighting how Bitcoin can transform not just individuals but entire nations.
The death and the taxes
And let’s not forget about taxes! Pompliano is pushing for a reclassification of Bitcoin from property to currency.
Right now, using Bitcoin for transactions means dealing with capital gains tax, an this is definitely not ideal for everyday use.
He argues that treating it like cash would eliminate unnecessary hurdles and encourage more people to use it in their daily lives.
The Trump effect on crypto
As Trump gears up for his second term, the crypto world is full of hype and excitement about what this could mean for cryptocurrencies.
With Pompliano’s proposals making some noise and whispers of a pro-crypto executive order on Trump’s first day back in office, optimism is clearly growing among crypto enthusiasts.
