Bitcoiners react to Clarity Act failure
“Clarity not passing is bad for the United States and bad for crypto,” wrote Matt Cole , CEO of bitcoin treasury company Strive (ASST). “As an American, I’m frustrated but not surprised it didn’t pass.”
“That said, my honest take is this is good for Bitcoin.”
“The only clarity you need is Bitcoin,” wrote Michael Saylor , executive chairman at Strategy (MSTR).
“Bitcoin has had legal and regulatory clarity in the U.S. for year,” said Saylor’s company . Strategy noted that the CFTC has long treated bitcoin as a commodity, the IRS recognizes it as property, the SEC has approved spot BTC products, and the FASB treats bitcoin as a GAAP asset.
As for bitcoin BTC $84,804.16 itself, it’s added to losses since the bill failed, but is also dealing with a renewed surge in oil prices and the Fed being less than 24 hours from launching a fresh rate-hike cycle.
Bitcoin is trading at $75,850, down 4.2% over the past 24 hours.
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