Strive CEO backs ending Bitcoin capital gains tax to boost adoption
Strive Asset Management has backed efforts to remove capital gains taxes on Bitcoin transactions in the U.S., as its CEO says the firm is actively working with policymakers while lawmakers prepare to review digital asset tax rules.
- Strive CEO Matt Cole has backed removing Bitcoin capital gains taxes and said the firm is engaging with policymakers in Washington on the issue.
- A House Ways and Means Committee hearing this week will examine crypto tax rules, including proposals covering stablecoins, staking, mining, and transaction reporting.
- Strive recently increased its Bitcoin treasury to 19,000 BTC after purchasing 2,500 Bitcoin for about $185 million.
According to Matthew Cole, chief executive officer of Strive Asset Management, eliminating capital gains taxes on Bitcoin could play a major role in encouraging people to use the cryptocurrency for payments rather than treating it solely as an investment asset.
Cole shared his view on X in response to a post that described the removal of Bitcoin capital gains taxes as the most important step for driving adoption.
Agreeing with the argument, he said Strive is “actively engaging DC regularly to make this happen” and added that the firm is dedicating resources to the effort through the Bitcoin Policy Institute.
Although Cole expressed support for the proposal, he acknowledged that policy changes of that scale could take considerable time. In his post, he said Strive would continue pursuing the initiative even if the path to implementation proves lengthy.
The comments come days after Strive expanded its Bitcoin treasury. As previously reported by crypto.news, Strive purchased 2,500 BTC between May 23 and June 1 for approximately $185.2 million, raising its total holdings to 19,000 BTC. The filing stated that the coins were acquired at an average price of about $74,092 per Bitcoin, including fees and expenses.
House committee prepares crypto tax hearing
Attention is also turning toward Washington, where lawmakers are preparing to examine how digital assets are taxed in the United States.
The U.S. House Ways and Means Committee is scheduled to hold a hearing on June 9 focused on cryptocurrency tax treatment. Ahead of the session, the committee released seven discussion drafts covering topics such as stablecoins, staking rewards, mining income, and transaction reporting requirements.
Among the proposals under review are measures intended to simplify compliance for digital asset users and provide clearer guidance for staking and mining activities. Committee documents also include discussion around a potential de minimis exemption that could remove reporting requirements for certain smaller transactions.
Industry organizations have long argued that existing tax rules create difficulties for everyday cryptocurrency use because many transactions can trigger taxable events. Those concerns have become a recurring topic in policy discussions involving digital assets.
Earlier this year, members of Congress introduced the Digital Asset PARITY Act, which proposed a $200 reporting threshold for stablecoin transactions. The proposal did not extend the exemption to Bitcoin payments.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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