Strategy Executive Chairman Michael Saylor has publicly defended Americans’ right to discuss, advocate for, and recommend owning Bitcoin without a license, while separating that activity from fraud and market manipulation.
In a Sept. 4 post on X, Saylor wrote: “In America, you don’t need a license to discuss Bitcoin, advocate for it, or publicly recommend owning it.” He added that Bitcoin is a commodity, not a security, and that fraud and manipulation remain illegal. His statement did not reference a specific enforcement case, but it aligns with the Commodity Futures Trading Commission’s long-held position that Bitcoin is a commodity and that the agency has authority over fraud and manipulation involving Bitcoin in interstate commerce.
The remarks arrive as the Senate prepares for a procedural vote on the CLARITY Act on Sept. 15 at 2:15 p.m. ET. The motion to proceed requires at least 60 votes, meaning the Republican-held Senate will need Democratic support. Under the proposed framework, digital commodities would generally fall under CFTC spot-market authority, while assets offered as investment contracts would remain under SEC securities jurisdiction. Bitcoin is expected to fall clearly within the commodity category.
The National Sheriffs’ Association has shifted its position on the CLARITY Act from opposition to neutral. In a Sept. 3 letter to Senate leaders, NSA President Sheriff Troy Wellman and Executive Director Justin Smith disclosed the change. The group had previously objected to protections for noncontrolling developers and software providers, arguing those could hinder investigations into illicit activity involving decentralized finance. Senator Cynthia Lummis welcomed the move and urged the Senate to advance the measure.
Separately, Strategy has resumed Bitcoin purchases after roughly 10 weeks without a net purchase. An Aug. 31 SEC filing showed the company bought 4,603 BTC for approximately $369.7 million between Aug. 24 and Aug. 30, at an average price of $80,318 per Bitcoin. Strategy now holds 845,050 BTC, acquired for an aggregate $63.73 billion at an average price of $75,412 per coin. The purchase was financed partly through MSTR stock sales that generated about $602.8 million in net proceeds.
