Michael Saylor defends Bitcoin treasury firms as US crypto policy scrutiny grows

Strategy chairman Michael Saylor rejected criticism of Bitcoin treasury companies during a recent appearance on the What Bitcoin Did podcast.

Saylor said companies with surplus capital are justified in allocating funds to Bitcoin rather than holding cash in treasuries or returning it to shareholders.

He compared corporate Bitcoin strategies to personal investing decisions, arguing that scale does not invalidate the rationale for holding BTC.

Saylor dismissed claims that unprofitable firms should be targeted, saying Bitcoin reserves can help counter weak operating performance.

Goldman Sachs chief executive David Solomon said the Digital Asset Market Clarity Act still faces major hurdles in the US Congress.

Solomon said Goldman Sachs teams remain focused on the legislation due to its implications for tokenisation and stablecoins.

A scheduled committee markup of the CLARITY Act was postponed after Coinbase withdrew support for the bill in its current form.

US lawmakers pressed the Securities and Exchange Commission for answers over paused and dismissed crypto enforcement cases.

Representatives Maxine Waters, Brad Sherman and Sean Casten questioned the SEC’s priorities in a letter to chair Paul Atkins.

The lawmakers cited stalled or dropped actions involving Justin Sun and crypto exchanges including Binance, Coinbase and Kraken.

At the time of reporting, Bitcoin price was $92,612.98.