Strive fiercely criticizes the US taxation plan, destroying Trump's "Bitcoin superpower" blueprint: Dubai, Singapore... many countries do not tax BTC

Asset management firm Strive director Pierre Rochard criticizes U.S. tax policies, which run counter to Trump’s vision of building a Bitcoin superpower, sparking market concerns over capital outflows.
(Background: Tom Lee warns the market: 2026 will start with “painful decline,” but Bitcoin will rebound and hit new highs by the end of the year)
(Additional context: BitMine invests another $80 million to add 24,000 ETH! Tom Lee: Vitalik and Sam Altman will attend BitMine’s shareholder meeting)

Strive director Pierre Rochard recently directed his criticism at Washington, pointing out that the U.S. tax system is unjustified and is undermining President Trump’s grand plan to turn the country into a “Bitcoin superpower.”

He notes that compared to tax havens like Dubai and Singapore, the U.S. not only maintains high capital gains taxes but will also introduce the new 1099-DA form in 2026, requiring exchanges to report investors’ crypto asset trading data to the IRS, increasing compliance costs and privacy concerns.

Contradiction in the tax system: White House beckons, IRS reaches out

We know that after Trump took office, he pushed for embracing cryptocurrencies and the GENIUS Act, attempting to loosen SEC and CFTC regulations, but Rochard criticizes the tax framework as if hitting the brakes. Meanwhile, the 1099-DA form will be mandatory starting in 2026, forcing exchanges to report every crypto sale profit, making tax reporting more burdensome for investors.

Pressure at the state level is also rising. California proposes to impose a one-time 5% wealth tax on individuals with net assets over $1 billion starting in 2026, and to include unrealized gains in the tax base. For Strive, which holds 12,797.9 Bitcoin, this is equivalent to being forced to liquidate part of its holdings.

When Dubai and Singapore attract talent with 0% tax rates, the U.S. instead reaches into every transaction with the IRS—this is a bad choice.

Rochard’s comments reflect industry-wide anxiety: capital will flow to jurisdictions with the lowest costs.

Competitive pressure and capital flow

On the international stage, El Salvador, Thailand, and Puerto Rico have adopted zero or low tax policies on crypto income; Germany exempts holdings over one year from tax. In comparison, the U.S. imposes federal capital gains taxes and has state-level wealth tax proposals, creating a “double whammy.”

Research firms estimate that if the 1099-DA and California tax proposals are implemented simultaneously, high-net-worth investors could face an additional compliance cost of tens of millions of dollars annually.

If capital and developers decide to relocate to more tax-friendly markets, Trump’s promise of a “Bitcoin superpower” may become just a slogan. Policy analysts warn that if the federal government cannot coordinate tax policies with industry strategies, the U.S. might be accelerating while also braking in this decentralized race, missing the opportunity to lead.

2026 will be a critical test for America’s approach: whether to adjust taxes to retain talent or let capital flow elsewhere—an answer that will soon be revealed.