Strive Asset Management is ramping up its lobbying push to remove U.S. capital gains taxes on Bitcoin, arguing the move would accelerate real-world use of the cryptocurrency beyond speculative investing.
Matthew Cole, Strive’s CEO, said on X that scrapping capital gains taxes on Bitcoin transactions is “the most important step for driving adoption,” and confirmed the firm is “actively engaging DC regularly to make this happen.” Cole added Strive is funding the effort through the Bitcoin Policy Institute and acknowledged the policy change could be slow, but vowed the firm will keep pushing until it succeeds.
The comments arrive as Strive continues to grow its Bitcoin holdings. Between May 23 and June 1 the firm bought 2,500 BTC for roughly $185.2 million, bringing its total to 19,000 BTC. Filings show the coins were acquired at an average price of about $74,092 per Bitcoin, including fees and expenses.
Policy focus is turning to Washington: the House Ways and Means Committee scheduled a June 9 hearing on cryptocurrency tax treatment and released seven discussion drafts covering stablecoins, staking rewards, mining income and transaction reporting. Proposals under consideration aim to simplify compliance for users, clarify tax treatment for staking and mining, and explore a possible de minimis exemption to remove reporting requirements for smaller transactions.
Industry groups have long warned that current tax rules make everyday crypto use cumbersome because many routine transactions can trigger taxable events. Earlier this year lawmakers introduced the Digital Asset PARITY Act, which proposed a $200 reporting threshold for stablecoin transactions — a relief not extended to Bitcoin payments in that proposal.
With major market participants like Strive lobbying hard and lawmakers actively rethinking tax rules, the coming months could shape whether Bitcoin’s role shifts from primarily an investment to a more widely used payment medium.
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