GRAYSCALE SAYS $BTC BEAR MARKET COULD END IF FED HOLDS RATES, CLARITY PASSES, AND STRATEGY STABILIZES
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📊 Strategy announced a five-part framework: $2.55B USD Reserve (17.4 months coverage) this morning, $1B preferred repurchase authorization, $1B MSTR buyback, and $BTC monetization up to $1.25B\n\n₿ "Bitcoin is capital," said CFO Andrew Kang. 🗞️👇https://t.co/0vZoe7QS2l https://t.co/FFbqjZYgJR
CLARITY Act update Senate in recess until July 13.
Staff and administration officials are now working to reconcile the Banking and Agriculture Committee texts, finalize ethics provisions tied to Trump's crypto holdings, and address law enforcement concerns over Section 604.
Floor consideration expected late July or early August. 60 votes required. At least 7 Democrats needed.
No final agreement reached as of now.
The August recess is the hard deadline. Miss it, and the bill likely stalls for the year.
Via: @EleanorTerrett
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Bitcoin (BTC) is a digital asset and a payment system invented by Satoshi Nakamoto who published a related paper in 2008 and released it as open-source software in 2009. The system featured as peer-to-peer; users can transact directly without an intermediary. Transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain. The ledger uses bitcoin as its unit of account. The system works without a central repository or single administrator, which has led the U.S. Treasury to categorize bitcoin as a decentralized virtual currency. Bitcoin is often called the first cryptocurrency, although prior systems existed. Bitcoin is more correctly described as the first decentralized digital currency. It is the largest of its kind in terms of total market value by now.
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