Proposal to Abolish Bitcoin Capital Gains Tax in US to Boost Adoption

Key Facts

As the push to integrate digital assets into the traditional financial system continues, new proposals are emerging to reshape the tax treatment of cryptocurrencies. According to reports, Matthew Cole, CEO of Strive Asset Management, has advocated for a roadmap to abolish Bitcoin capital gains tax in the United States. This proposal seeks to boost the utility of the cryptocurrency in everyday transactions by removing the tax friction that currently hinders its adoption as a medium of exchange.

These calls come amid significant institutional inflows into Bitcoin ETFs, with industry giants like BlackRock and Fidelity competing for market share. Per market data, the requirement to report capital gains on every small purchase made with Bitcoin creates a logistical barrier to its use as a fiat alternative. Tax experts, according to industry research, suggest that exempting small-scale transactions could be the first step toward broader pro-crypto legislation.

Monitoring market performance, Bitcoin was trading at $63332.01 (close June 7, 2026) as it awaits new legislative or economic catalysts. Investors are looking ahead to next week's U.S. inflation data and Fed policy meetings, which could directly impact risk appetite in the digital asset market, especially given the ongoing debates regarding regulatory and tax frameworks in Washington.