Blab Crypto
Strive CEO Matthew Cole Advocates for Eliminating Bitcoin Capital Gains Tax in the U.S.
Matthew Cole, the chief executive officer of Strive Asset Management, has publicly supported the removal of U.S. capital‑gain tax provisions that apply to Bitcoin. In a statement reported by Coingape, Cole said that abolishing these tax rules could have a major impact on how Bitcoin is used in everyday transactions.
The proposal comes at a time when the U.S. Internal Revenue Service (IRS) treats Bitcoin as property for tax purposes. Under current law, any profit realized from the sale or exchange of Bitcoin is subject to capital‑gain tax, with rates ranging from 0% to 20% for long‑term holdings and up to 37% for short‑term gains, depending on an individual’s taxable income. The tax treatment creates a financial barrier for merchants and consumers who wish to use Bitcoin as a medium of exchange, because each transaction that results in a gain triggers a tax event.
Cole’s comments follow a broader trend of industry leaders calling for a change in the tax framework. Several U.S. states, including Florida, have introduced bills that would exempt Bitcoin gains from state capital‑gain taxes. Internationally, countries such as Germany and the Czech Republic have already eliminated capital‑gain taxes on Bitcoin held for longer than three years, citing the desire to encourage investment and economic activity.
Strive Asset Management has positioned itself as a pioneer in institutional Bitcoin adoption. The firm has announced plans to become the first publicly traded asset‑management company that uses Bitcoin as a treasury reserve. In 2025, Strive’s CEO Matt Cole persuaded the video‑retailer GameStop to convert a portion of its cash reserves into Bitcoin, a move that was publicly acknowledged by GameStop’s chairman. The company has also urged other firms, such as Intuit, to reconsider policies that it describes as “censorship” toward Bitcoin usage.
According to Strive’s public filings, the firm is pursuing a $4.2 billion expansion of its Bitcoin holdings. The company’s strategy is to use Bitcoin not only as a store of value but also as a source of digital credit, which could accelerate the transition to a Bitcoin‑driven economy. Cole has highlighted the potential for Bitcoin to serve as a stable, decentralized reserve asset that can reduce reliance on traditional fiat currencies.
The tax issue is central to Strive’s broader advocacy. By removing the capital‑gain tax burden, Cole argues that Bitcoin would become a more attractive option for everyday purchases and payments. The change would also reduce the administrative complexity for merchants who currently need to track gains and losses on each transaction.
While the IRS has not announced any plans to alter its treatment of Bitcoin, the conversation has gained traction among policymakers. Several members of Congress have introduced bills that would exempt Bitcoin gains from federal capital‑gain taxes, and the Treasury Department has indicated an interest in reviewing the regulatory framework for digital assets.
At present, the U.S. tax code remains unchanged, and Bitcoin holders continue to face capital‑gain tax obligations. Strive’s advocacy is part of a larger industry push to align tax policy with the evolving role of cryptocurrencies in commerce and finance. The outcome of these discussions will shape the future of Bitcoin’s adoption as a payment method and as a treasury asset for institutional investors.
In summary, Matthew Cole’s support for eliminating Bitcoin capital‑gain tax provisions reflects a broader push within the cryptocurrency community to reduce regulatory barriers. The proposal could influence everyday Bitcoin usage if adopted, but it remains a subject of ongoing debate among lawmakers, regulators, and industry stakeholders.
The proposal comes at a time when the U.S. Internal Revenue Service (IRS) treats Bitcoin as property for tax purposes. Under current law, any profit realized from the sale or exchange of Bitcoin is subject to capital‑gain tax, with rates ranging from 0% to 20% for long‑term holdings and up to 37% for short‑term gains, depending on an individual’s taxable income. The tax treatment creates a financial barrier for merchants and consumers who wish to use Bitcoin as a medium of exchange, because each transaction that results in a gain triggers a tax event.
Cole’s comments follow a broader trend of industry leaders calling for a change in the tax framework. Several U.S. states, including Florida, have introduced bills that would exempt Bitcoin gains from state capital‑gain taxes. Internationally, countries such as Germany and the Czech Republic have already eliminated capital‑gain taxes on Bitcoin held for longer than three years, citing the desire to encourage investment and economic activity.
Strive Asset Management has positioned itself as a pioneer in institutional Bitcoin adoption. The firm has announced plans to become the first publicly traded asset‑management company that uses Bitcoin as a treasury reserve. In 2025, Strive’s CEO Matt Cole persuaded the video‑retailer GameStop to convert a portion of its cash reserves into Bitcoin, a move that was publicly acknowledged by GameStop’s chairman. The company has also urged other firms, such as Intuit, to reconsider policies that it describes as “censorship” toward Bitcoin usage.
According to Strive’s public filings, the firm is pursuing a $4.2 billion expansion of its Bitcoin holdings. The company’s strategy is to use Bitcoin not only as a store of value but also as a source of digital credit, which could accelerate the transition to a Bitcoin‑driven economy. Cole has highlighted the potential for Bitcoin to serve as a stable, decentralized reserve asset that can reduce reliance on traditional fiat currencies.
The tax issue is central to Strive’s broader advocacy. By removing the capital‑gain tax burden, Cole argues that Bitcoin would become a more attractive option for everyday purchases and payments. The change would also reduce the administrative complexity for merchants who currently need to track gains and losses on each transaction.
While the IRS has not announced any plans to alter its treatment of Bitcoin, the conversation has gained traction among policymakers. Several members of Congress have introduced bills that would exempt Bitcoin gains from federal capital‑gain taxes, and the Treasury Department has indicated an interest in reviewing the regulatory framework for digital assets.
At present, the U.S. tax code remains unchanged, and Bitcoin holders continue to face capital‑gain tax obligations. Strive’s advocacy is part of a larger industry push to align tax policy with the evolving role of cryptocurrencies in commerce and finance. The outcome of these discussions will shape the future of Bitcoin’s adoption as a payment method and as a treasury asset for institutional investors.
In summary, Matthew Cole’s support for eliminating Bitcoin capital‑gain tax provisions reflects a broader push within the cryptocurrency community to reduce regulatory barriers. The proposal could influence everyday Bitcoin usage if adopted, but it remains a subject of ongoing debate among lawmakers, regulators, and industry stakeholders.
