Clarity Act Nears Finish Line as Coinbase CEO Sees Bitcoin Cycle Bottom
Coinbase CEO Brian Armstrong is optimistic about the prospects of the Clarity Act and Bitcoin's price recovery. Speaking to Bloomberg, he stated that the bill to provide regulatory clarity on crypto is nearing its 'finish line', with a Senate vote scheduled for September 15.
Armstrong noted that banks, law enforcement groups, and crypto companies all endorse the Clarity Act, which aims to provide clearer guidelines for the industry. If it passes, he believes it will unlock institutional capital and pave the way for tokenized equities in the U.S., calling it 'a big milestone' for the industry.
Regarding Bitcoin, Armstrong said that he personally believes the cycle bottom is already in, based on the asset's four-year cycles. He expects Bitcoin to trend higher over the coming year or two as the next halving event approaches.