Brian P. Phillips

I get asked why not just buy the Bitcoin ETF? Fair question — here's the honest comparison. ETF: clean exposure, fully taxed at sale. Self-directed IRA: contribution caps, distributions taxed, age restrictions. Charitable trusts: defer, don't eliminate. The OZ structure is the only vehicle where Bitcoin's appreciation itself exits tax-free — with unlimited contribution size, no age rules, and tax-free growth through 2047. Each tool has its place. Only one erases the capital gains.

A good newsletter that has some real thought in it and isn’t just repeating the past week’s news.

An overlooked fact in crypto tax planning: the wash sale rule doesn't apply. Stocks: sell at a loss, rebuy within 30 days, loss disallowed. Crypto: classified as property, so today you can sell underwater positions, harvest the loss, repurchase immediately — keeping exposure while banking losses that offset gains elsewhere. Sophisticated investors pair the two moves: harvest losses to cut this year's bill, roll a separate gain into tax-free growth. Congress may close this — timing matters. Talk to your tax advisor.

The first question every serious Bitcoin investor asks: who holds the keys? Ours: @Anchorage Digital — the only federally chartered crypto bank in the U.S., custodian to ETFs and governments. Segregated accounts, annual audits, and a public wallet address anyone can verify on-chain. Fund administration by @HC_Global_FS; tax by @Deloitte. In this asset class, "trust me" isn't good enough. Trust, then verify.

Before anyone trusted us w/ Bitcoin, they trusted us with something harder: being first. First OZ business fund in the United States. Then a Forbes Top 10 OZ fund manager. Two OZ venture funds backing companies from energy analytics to workforce tech. That decade of firsts is the foundation under the Pearl Bitcoin Fund — same team, same discipline, same statute, new asset.

Sold real estate, a business, stock, or crypto recently? A 180-day IRS clock started that day. Miss it and your capital gains tax is locked in forever. Check your exact deadline: thepearl.fund

A $1M gain in Bitcoin at 25%/yr becomes $9.3M in a decade. In a taxable account, the IRS takes $1.97M of that. Through the right structure: $0. Illustrative — run your own number at thepearl.fund. For accredited investors.

"This isn't a loophole. Opportunity Zones were written into the tax code in 2017 and made permanent in 2025. We were among the first to apply IRC §1400Z to a business — and the first to apply it to Bitcoin."

Bitcoin's full upside. Zero capital gains tax. Not an ETF, not an IRA, not a trust — a structure written into the U.S. tax code that eliminates capital gains on Bitcoin's appreciation after 10 years. For accredited investors. thepearl.fund

A great conversation all about the Pearl BTC Fund and how to use the US Tax law to avoid paying any capital Gains tax on your BTC.

Check out Factorial Battery. It’s going public next week. Drones need batteries and DoD will only use non China suppliers which supply 70% of the market. Factorial is US company and has solidstate technology so the drones fly further, last longer, charge faster and can fly higher as the cold does not impact them. They also have Mercedes, Stellantis and Kia/Hyundai and IQT (DoD) as investors

You nailed it!! We have been running OZB funds since 2019. Doing BTC in an OZ takes some very precise implementation. One must be an active trade or business proving they are creating employment. We do that in our Pearl BTC company based in Harlem. thepearl.fund

Headed to the Bitcoin conference in Vegas. DM me if you want to meet up.