Michael Saylor: Bitcoin Will Continue Growing Despite Clarity Act Failure

Michael Saylor, chairman of MicroStrategy, has maintained his expectation for continued growth in the Bitcoin and cryptocurrency markets following the failure of the U.S. Senate's Clarity Act.

Saylor stated that this legislative setback does not signal an end to Bitcoin or the broader crypto ecosystem. Speaking to blockchain media U.Today on September 16 (local time), he emphasized that market clarity can be achieved under existing laws, and regulatory improvements will continue regardless of Senate delays.

He highlighted the roles of the Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and the U.S. Treasury in establishing necessary clarity within current legal frameworks. Saylor believes that if the SEC takes action, Bitcoin and the wider crypto market can continue to advance under existing laws.

Saylor also pointed to expanding roles for banks as a key next step. He expects financial institutions to broaden Bitcoin custody services and increase loans secured by Bitcoin. As adoption grows, banks will play a larger role in the Bitcoin market, bringing it closer to mainstream acceptance regardless of future Senate cryptocurrency legislation.

He reiterated that the Clarity Act failure should not be seen as a limiting factor, stressing that regulatory agencies can build market clarity under current laws. The absence of legislative action won't halt market progress, he said.

Saylor also noted potential progress in the stablecoin sector, suggesting the GENIUS bill could drive stablecoin adoption. He emphasized that the overall crypto market shouldn't be tied solely to the success or failure of one legislative act.