Bitcoin 
$97,350 advocate Anthony Pompliano has presented three strategic recommendations to U.S. President Donald Trump to enhance the adoption of Bitcoin. Pompliano outlined practical steps for Trump to position himself as a leader in the digital currency revolution.
Proposal to Repeal SAB 121
Pompliano suggested the repeal of regulation SAB 121, which restricts banks from holding digital assets and classifies these assets as liabilities. He argued that removing this barrier would allow banks to hold Bitcoin on behalf of their customers. This step could potentially increase institutional demand for cryptocurrency.
Creating a Strategic Bitcoin Reserve for National Growth
Additionally, Pompliano proposed the establishment of a national Bitcoin reserve. He emphasized that the U.S. government currently holds approximately 200,000 Bitcoins, which could serve as the foundation for such a reserve. He expressed that increasing the government’s Bitcoin holdings would provide long-term benefits to the economy.
“If Bitcoin is good for individuals or companies, it will be good for the country.” – Anthony Pompliano
Pompliano also called for tax reforms that would alter the classification of Bitcoin under current laws. Presently, Bitcoin’s classification as property subjects transactions to capital gains tax, creating complexities for users and businesses. He concluded by stating that these measures would position the United States as a leader in the digital currency revolution.
As countries like El Salvador integrate Bitcoin into their national strategies, other regions, such as Bhutan’s Gelephu Mindfulness City, plan to hold Bitcoin and other cryptocurrencies in their strategic reserves. GMC aims to diversify its reserves by focusing on digital assets with significant market capitalization and liquidity.
These initiatives seek to promote the acceptance and utilization of Bitcoin on an international scale. Many companies have started aggressively implementing their Bitcoin strategies, exemplified by Genius Group, which approved a $33 million rights offering to expand its Bitcoin treasury.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
