The CLARITY Act stalling in Congress may actually be a tailwind for bitcoin

00:00 Josh

What do you make of the recent moves we see in Bitcoin? What do you chalk that up to, Dan? Is that debasement trade, dollar hedge? Is it short squeeze? Is it a mix of the two? What do you think?

00:22 Dan

Hey Josh, it's always great to be on your show. It it's, I'd say it's all of the above, right? You've got basically everything happening together. You've got Scott Besson basically telling people there's going to be a debasement trade. Um, you've got, you know, basically everything that you could think of that would make uh Bitcoin want to go up from its kind of lows.

00:48 Josh

I've also seen Dan, some folks say they chalk up the recent moves at least in part to President Trump. And specifically President Trump urging lawmakers, hey, you got to pass the clarity Act. What do you think of that?

01:08 Dan

I think like everything we've heard, I don't think it's happening. I actually think so I actually think that the Clarity Act was a headwind to Bitcoin. So now that the Clarity Act is not happening, Bitcoin is going up. Now I can explain that to you if you want.

01:28 Josh

Yes, please do, Dan.

01:31 Dan

So, if you think about crypto, and this is sort of like a bit of a revelation here, every time it gets institutionalized, the core people that believe in it run away from it. So, when the Clarity Act was happening, Bitcoin Bitcoin was going down. When the Clarity Act is not happening and it becomes it remains kind of the wild west, Bitcoin is going up. I know it sounds a little crazy, but that's, you know, welcome to the world of, you know, crypto.