Analyst Anthony Pompliano, a prominent Bitcoin advocate, has offered three pieces of advice to US President-elect Donald Trump that would help him become the “first Bitcoin president.”
Listing his three recommendations in a video shared from his X account, Pompliano argued that with these three steps, Trump could push the price of Bitcoin much higher.
1) Remove SAB 121!
Pompliano’s first recommendation was to repeal Staff Accounting Bulletin No. 121 (SAB 121), which limits and prevents banks from holding digital assets on their balance sheets.
According to the famous name, repealing SAB 121 will free up banks to hold Bitcoin on behalf of their customers, which will significantly increase demand for BTC, which will in turn increase the price of BTC.
2)Implement a National Bitcoin Reserve!
Pompliano’s second suggestion was to create a national Bitcoin (BTC) reserve, Trump’s most vocal promise in 2024.
Accordingly, if Trump fulfills his previous promise to establish a national Bitcoin reserve, it will contribute to BTC adoption.
“If there is one thing that is good for the US economy in the long run, it is that the US has more Bitcoin.
“If Bitcoin is good for individuals or companies, it will be good for the country.”
Pompliano also reminded that the US government already holds about 200,000 BTC on its balance sheet.
3) Make Tax Law Reforms for Bitcoin!
In his final piece of advice, Pompliano called on Donald Trump to propose tax reforms that would change how Bitcoin is treated under the current tax code.
“Currently, Bitcoin is classified as property. This means that transactions involving Bitcoin are subject to capital gains tax. This needs to change.
So if we do these three things, we will see Bitcoin adoption accelerate significantly.
These steps will position the United States as a leader in the global digital economy.”
*This is not investment advice.
