Michael Saylor asserts right to promote Bitcoin as commodity

In a post on X, Saylor emphasized that Bitcoin functions as a commodity rather than a security, placing the asset outside the scope of traditional investment advisory licensing. While his statement did not target a specific legal case, it serves to delineate the boundaries of free speech from conduct that triggers regulatory enforcement. This interpretation aligns with the long-standing position of the Commodity Futures Trading Commission, which maintains authority over Bitcoin-related fraud in interstate commerce.

The timing of Saylor’s comments coincides with heightened legislative activity in Washington regarding the CLARITY Act. The Senate is expected to hold a procedural vote on the bill on September 15, aiming to clarify the regulatory divide between the SEC and the CFTC. The legislation seeks to categorize digital assets, with Bitcoin widely expected to fall under the CFTC’s spot-market oversight. Meanwhile, MicroStrategy continues to aggressively expand its balance sheet, recently disclosing the purchase of 4,603 BTC for approximately $369.7 million. This acquisition, funded through stock sales, brings the firm’s total holdings to 845,050 BTC at an average cost of $75,412 per coin.