Bitcoin’s Problem Isn’t Scaling, It’s Taxes: Says Strive Executive

Pierre Rochard, a director at Bitcoin Treasury firm Strive, has criticized the United States for continuing to tax BTC. In a recent statement, Rochard highlighted that several jurisdictions, including Dubai, El Salvador, Thailand, Puerto Rico, Singapore, and Germany, do not impose taxes on Bitcoin.

As such, he reiterates that the US has no reason to maintain its current tax stance on the asset.

Rochard believes that the way BTC is taxed prevents it from functioning as ordinary money in everyday transactions, regardless of improvements in scaling technologies (tools that speed up transactions and reduce costs).

While using an athletic analogy, he said that it is not by strength alone that a victory is guaranteed, but rather by showing up and playing the game.

Under current U.S. tax rules, Bitcoin is classified as property, not currency. As a result, every time BTC is spent, whether on coffee, services, or goods, it creates a taxable event. If the Bitcoin has appreciated since it was acquired, the transaction can trigger both a reporting requirement and a capital gains tax.

Lawmakers Weigh Exemptions

In July 2025, Sen. Cynthia Lummis introduced a proposal for a de minimis exemption covering digital asset transactions of $300 or less.

The bill included a $5,000 annual cap on exemptions and provisions to exempt digital assets used for charitable donations. It also proposed deferring taxes on income from staking or mining until the assets are sold.

Rochard argues that the issue centers on the lack of a de minimis exemption for small transactions. Without one, spending bitcoin can trigger a taxable event each time it is transferred for payment.

Some US lawmakers have discussed limiting de minimis relief to overcollateralized, dollar-pegged stablecoins, drawing criticism from bitcoin supporters.

 Nevertheless, the bill reflects the state’s effort to normalize digital currencies in daily payments, limiting the exemption to small transactions rather than investment trades.