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BTC Michael Saylor defends public advocacy of Bitcoin as protected speech
Michael Saylor, executive chairman of Strategy, defended public advocacy of Bitcoin under U.S. law, saying it falls within the protected category of free speech. He also emphasized that Bitcoin should be regarded as a commodity rather than a security, and clearly distinguished advocacy from illegal behavior. At the same time, members of the U.S. Congress are still debating the new rules for digital assets.
Thaler pointed out that Americans do not need special permission to discuss Bitcoin and advise the public to hold the asset. He also reiterated that current laws still prohibit fraud and market manipulation involving digital assets. As a result, his stance links the public promotion of Bitcoin to established civil rights while firmly opposing illegal financial activities.
Over the years, Siler has maintained strong support for Bitcoin through public statements and Strategy's corporate treasury strategy. His latest remarks focused on discussing Bitcoin and publicly recommending the asset's legal status. These comments also reflect widespread controversy over how regulators should supervise the cryptocurrency market.
CLARITY Act debate continues in Washington
Siler's comments came as members of Congress prepare for a procedural vote on the CLARITY Act on September 15. The legislation aims to clarify the division of responsibilities among federal agencies in regulating the digital asset market. However, before the bill can move forward further in the Senate, lawmakers still need to resolve a number of provisions.
The National Sheriffs 'Association recently changed its position on the legislation from opposition to neutrality. The organization had previously worried that enforcement against illegal financial activities might be insufficient under the framework of the proposal. Senator Cynthia Lummis welcomed the shift and urged lawmakers to move forward with the legislative process.
Loomis believes that the bill could provide law enforcement agencies with a stronger tool to combat illegal cryptocurrency financial activities. However, the September 15 vote can only advance the review process and does not represent final adoption. As a result, the Senate must complete additional steps before the legislation can formally become law.
Strategy resumes bitcoin buying, MSTR shares fall under pressure
Thaler's comments follow Strategy's resumption of bitcoin purchases after ending its long suspension. The company spent approximately US$369.7 million to purchase 4,603 bitcoins, with an average purchase price of US$80,318 each. The acquisition increased the company's total Bitcoin holdings to 845,050.
Strategy has made Bitcoin a core component of its corporate treasury strategy for years. Although the cryptocurrency market experienced sharp fluctuations, the company continued to accumulate bitcoins. In addition, its purchases also closely tied the company to Bitcoin's market performance.
Strategy's share price is facing new selling pressure despite the latest round of acquisitions. Affected by a new round of fluctuations in Bitcoin triggered by U.S. employment data, MSTR shares recently fell by about 4.2% to close at US$138.74. In the past 12 months, despite Strategy's continued increase in its holdings of Bitcoin, its share price has fallen by approximately 56%.
