He proposed triggering a Bitcoin bull market via tax exemption, a strategic BTC reserve, and Fed accumulation.
Bitcoin advocate Pierre Rochard reignited long-running tensions inside crypto when he dismissed altcoins as “bozos and clowns” while arguing that U.S. federal policy should focus on BTC alone.
His comments landed as the flagship cryptocurrency slid below $75,000 during a broad market sell-off tied to macro pressure and regulatory uncertainty in Washington.
Maximalist Rhetoric Amid Market Stress
Rochard used strong language in a February 3 post on X to dismiss the value of all non-Bitcoin crypto assets.
“I don’t want to hear a word from the altcoin crypto web3 NFT ICO XRP ETH ADA blockchain whatever bozos and clowns,” he wrote.
He also asserted that these assets have been “purely riding on Bitcoin’s coattails” and should simply “be grateful for whatever happens.”
This maximalist view was posted against a backdrop of significant market declines, with data showing BTC dropped by nearly 11% over the past week, erasing corporate paper gains.
On February 2, Strategy, the largest corporate Bitcoin holder, disclosed a new purchase of 855 BTC for $75.3 million. However, with the asset’s price falling, the company’s unrealized gains have shrunk from nearly $8 billion last week to under $3 billion, with the broader crypto market losing an estimated $500 billion in value since late January.
In his post, Rochard suggested a policy prescription to kickstart a Bitcoin bull market that centered on three U.S. government actions: securing a strategic Bitcoin reserve, making Bitcoin tax-exempt, and having the Federal Reserve accumulate Bitcoin.
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These ideas sparked debate online, with one user remarking,
“Oh, so now everyone wants BTC to be treated like real money. funny how that works when taxes are involved.”
The Bitcoin for Corps host countered, stating,
“Bitcoin is not a foreign currency… it should actually be tax exempt.”
Policy Focus Diverges From Washington Agenda
Rochard’s proposed policy shift comes as Washington’s immediate focus lies elsewhere. On February 2, representatives from major crypto firms and traditional banking groups met at the White House for a working session. The meeting aimed to address disagreements over stablecoin yield regulations, a key sticking point in the stalled CLARITY Act legislation in the Senate.
The Bitcoin Bond Company CEO replied to coverage of the event by journalist Eleanor Terrett with the comment,
“The focus should be on tax exemption for Bitcoin and securing the Strategic Bitcoin Reserve, not stablecoin yield. This is a big distraction.”
The market context is challenging. Beyond crypto, a cross-asset sell-off has impacted commodities and equities. Precious metals such as silver and gold have recently experienced significant drops, while Bitcoin has fallen out of the top ten global assets by market capitalization and is now ranked 12th. As such, the current climate indicates that the volatility must be addressed for Rochard’s bullish policy ideas to succeed.
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