Matt Cole, the chief executive of Strive Asset Management, has voiced support for removing capital gains taxes on Bitcoin transactions in the United States, arguing that such a policy shift could significantly boost the cryptocurrency’s use as a medium of exchange rather than a mere store of value. In a recent social media exchange, Cole endorsed the idea, stating that Strive is actively working with policymakers in Washington to advance this initiative. The firm is reportedly channeling resources into the effort via the Bitcoin Policy Institute, though Cole acknowledged that achieving such legislative change may require patience and sustained advocacy.
This development comes shortly after Strive bolstered its Bitcoin holdings. The company acquired 2,500 BTC between late May and early June, spending roughly $185.2 million, which brought its total treasury to 19,000 Bitcoin. According to a regulatory filing, the average purchase price including fees was approximately $74,092 per coin. This expansion underscores Strive’s long-term confidence in digital assets, even as market conditions fluctuate.
Meanwhile, the U.S. House Ways and Means Committee is gearing up for a hearing on June 9 to discuss cryptocurrency taxation. The committee has released seven discussion drafts addressing various aspects, including stablecoins, staking rewards, mining income, and transaction reporting. Among the proposals is a potential de minimis exemption that would eliminate reporting requirements for smaller transactions, which industry advocates argue would relieve burdens on everyday crypto users. While a related bill earlier this year proposed a $200 threshold for stablecoin payments, it did not extend to Bitcoin. The upcoming hearing signals growing legislative interest in reshaping digital asset tax policies to foster innovation and adoption.