Saylor Defends Bitcoin Advocacy as Free Speech

Michael Saylor, co-founder of MicroStrategy, has emphasized that Bitcoin advocacy is protected by free speech in the United States. He argues that Americans can discuss and recommend owning Bitcoin without obtaining a specific license due to its classification as a commodity rather than a security.

Saylor distinguishes between Bitcoin's status as a digital commodity and other assets subject to securities regulations. He stresses that publicly expressing support for Bitcoin or encouraging others to own it is considered protected speech, not regulated financial activity.

However, Saylor makes it clear that fraud and market manipulation remain illegal in the context of Bitcoin. His comments come amidst ongoing debate in Washington about how federal oversight of the broader cryptocurrency industry should be divided.