Michael Saylor Defends Bitcoin Advocacy As MSTR Shares Face Pressure

Strategy Executive Chairman Michael Saylor has defended public Bitcoin advocacy as protected speech under United States law. He also described Bitcoin as a commodity rather than a security, while separating advocacy from illegal conduct. Meanwhile, his comments come as lawmakers continue debates over new rules for digital assets.

Saylor said Americans can discuss Bitcoin and recommend ownership without obtaining a special license. He also stressed that existing laws still prohibit fraud and market manipulation involving digital assets. Consequently, his position links public Bitcoin promotion with established rights while rejecting unlawful financial activity.

Saylor has remained a prominent Bitcoin supporter through public statements and Strategy’s corporate treasury approach. His latest comments focus on the legal status of discussing Bitcoin and recommending the asset publicly. The remarks also come amid wider debates over how regulators should oversee cryptocurrency markets.

Clarity Act Debate Continues in Washington

The comments come as lawmakers prepare for a September 15 procedural vote concerning the CLARITY Act. The legislation seeks clearer responsibilities among federal agencies overseeing digital asset markets. However, lawmakers still need to resolve several provisions before the bill can advance through the Senate.

The National Sheriffs’ Association recently changed its position on the legislation from opposition to neutral. The group had raised concerns about enforcement against illicit financial activity under the proposed framework. Senator Cynthia Lummis welcomed the shift and urged lawmakers to move the legislation forward.

Lummis has argued that the bill could give law enforcement stronger tools against illicit crypto finance. However, the September 15 vote would only advance consideration and would not establish final passage. Therefore, the Senate must complete additional steps before the legislation can become law.

Strategy Resumes Bitcoin Purchases as MSTR Shares Fall

Saylor’s comments also follow Strategy’s return to Bitcoin purchases after an extended buying pause. Strategy acquired 4,603 BTC for roughly $369.7 million, with an average purchase price of $80,318. The purchase lifted the company’s Bitcoin holdings to 845,050 BTC.

Strategy has used Bitcoin as a central part of its corporate treasury strategy for several years. The company has continued accumulating BTC despite periods of sharp price swings across cryptocurrency markets. Moreover, its purchases have kept the company closely tied to Bitcoin’s market performance.

Despite the latest acquisition, Strategy shares have faced renewed selling pressure. MSTR recently fell about 4.2% to $138.74 as Bitcoin experienced fresh volatility after United States employment data. The shares remain down about 56% over the past 12 months, despite Strategy’s continued Bitcoin accumulation.