Pierre Rochard, a board member at bitcoin treasury firm Try, stated the largest impediment to utilizing bitcoin for funds is US tax coverage relatively than scaling know-how that lowers charges and settlement instances.
He wrote in a submit:
“Right here’s a metaphor: one of the best athlete can win towards the worst athlete 100% of the time, if one of the best athlete performs. It drops to 0% if he doesn’t play and lets the weak athlete win.”
Why taxes matter for small funds
Rochard argues that the problem facilities on the dearth of a de minimis exemption for small transactions.
With out one, spending bitcoin can set off a taxable occasion every time it’s transferred for cost.
In December 2025, the Bitcoin Coverage Institute warned that this construction discourages bitcoin’s use as a medium of trade.
Lawmakers weigh exemptions
In July 2025, Sen. Cynthia Lummis launched a proposal for a de minimis exemption protecting digital asset transactions of $300 or much less.
The invoice included a $5,000 annual cap on exemptions and provisions to exempt digital belongings used for charitable donations.
It additionally proposed deferring taxes on earnings from staking or mining till the belongings are bought.
Some US lawmakers have mentioned limiting de minimis reduction to overcollateralized, dollar-pegged stablecoins, drawing criticism from bitcoin supporters.
Jack Dorsey known as for a tax exemption on small bitcoin transactions, saying:
“We would like BTC to be on a regular basis cash ASAP.”
Bitcoin advocate Marty Bent additionally criticized the stablecoin-only strategy, calling it “nonsensical.”