First, Anthony Pompliano called on authorities to repeal the controversial accounting amendment SAB-121, which requires companies that own cryptocurrencies to report them as financial liabilities. According to the businessman, the amendment, which was introduced by the US Securities and Exchange Commission (SEC), prevents the widespread adoption of Bitcoin and other cryptocurrencies by large legal entities.
“If you’re a bank, you don’t want to hold an asset that’s considered a liability. If SAB-121 is repealed, banks will begin to hold Bitcoin, making the asset safer and more attractive to institutional clients,” Pompliano said.
In addition, the head of Pomp Investments proposed that the US government create a strategic reserve in bitcoins. He also believes it is important for authorities to purchase additional bitcoins. There are already $200,000 worth of crypto assets on the federal balance sheet, but the number of coins needs to be replenished, because this is a long-term economic asset, Pompliano noted.
The investor also considers it necessary to reclassify Bitcoin as a currency in order to exempt cryptocurrency transactions from capital gains taxes. This should encourage the use of Bitcoin for daily payments, and the first cryptocurrency will be able to smoothly integrate into the economy as a means of payment.
“It’s crazy, you don’t do that with dollars. If Trump can do these three things, Bitcoin will go much higher,” Pompliano concluded.
Last year, an American businessman advised investors not to sell bitcoins, but to pass them on to their grandchildren. Pompliano also said that he invested most of his funds in Bitcoin and the SOL cryptocurrency.
Source: Bits
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