Tristan Thompson Backs Bitcoin, Says Daily Buying Builds Long-Term Wealth

• Tristan Thompson urges teammates to buy Bitcoin daily and hold for the long term.
• Thompson says U.S. crypto laws could unlock more capital for on-chain markets.
• SEC crypto rules may advance as the Senate delays the CLARITY Act vote to September.

Former Cleveland Cavaliers champion Tristan Thompson said Bitcoin has become central to his crypto strategy, noting he buys the asset daily and urges teammates to follow suit. 

Thompson, in a podcast with Anthony Pompliano, said his Bitcoin outlook is tied to continued internet adoption rather than expectations of a weaker U.S. dollar. He also pointed to the GENIUS Act and potential passage of the CLARITY Act as developments that could bring more capital into crypto and on-chain markets.

Tristan Thompson Backs Daily Bitcoin Buying

Thompson said teammates have contacted him to ask whether they should buy Bitcoin. His response has been to buy regularly and “stack” the cryptocurrency as a long-term asset.

He also recalled Bitcoin trading around $63,000 and said he does not want to reach old age and have his grandchildren question why he did not buy more at that level. Thompson cited Bitcoin’s performance over the past 14 years as part of his reasoning.

For Thompson, Bitcoin’s appeal does not depend on a collapse in the dollar. He said he owns Bitcoin because he expects the internet to continue expanding and sees Bitcoin as connected to that broader shift.

Thompson described his involvement in crypto as part of his transition into technology investing after his NBA career. He said he has discussed Bitcoin with fellow athletes and wants to help them understand financial markets and investment decisions.

Crypto Regulation Advances as Lawmakers Debate CLARITY Act 

Thompson also highlighted U.S. crypto legislation. He said passage of the GENIUS Act and a potential CLARITY Act could unlock more capital for on-chain activity and cryptocurrency.

The regulatory landscape is moving even as lawmakers work through the CLARITY Act. The Senate delayed a vote on the digital asset market structure bill in August after failing to reach a compromise. Senate Majority Leader John Thune said that the bill will receive a vote when lawmakers return in September.

Meanwhile, the Securities and Exchange Commission is advancing separate crypto-related initiatives. The agency is considering rules for certain investment contracts involving crypto assets as part of its broader “Regulation Crypto” agenda.

The proposed framework includes potential registration exemptions for some crypto startups, fundraising exemptions, and safe-harbor provisions concerning whether certain tokens qualify as securities. The SEC may also provide details on an innovation exemption involving tokenized stocks, which could support 24/7 trading of blockchain-based equities.

Related: CFTC Sets Aug. 20 Crypto Talks as Regulators Seek Clearer Rules