Michael Saylor (마이클 세일러) said he maintains expectations for growth in bitcoin and the cryptocurrency market even after the U.S. Senate failed to pass the CLARITY bill.

On Sept. 16 local time, blockchain media outlet U.Today reported that Saylor said the legislative setback does not mean the end of bitcoin or the broader crypto ecosystem.

The remarks came as negative sentiment spread across the market after the Senate failed to pass the CLARITY bill. Saylor drew a line, saying the bill’s failure itself cannot be seen as a structural limitation of the market. He said the necessary clarity can be created under existing laws, and that institutional adjustments can continue regardless of Senate delays.

Saylor particularly stressed the roles of the U.S. Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the U.S. Treasury. He said there is ample room for bitcoin and the broader crypto market to keep moving forward within the existing legal framework if the SEC takes action. He argued that even if Senate legislation is delayed, regulators can reduce market uncertainty through interpretation and enforcement.

He also pointed to an expanded role for banks as the next point to watch. Saylor said he expects financial institutions to broaden bitcoin custody services and expand loans backed by bitcoin. He said as adoption grows, banks will take on a larger role in the bitcoin market, and if this trend continues the bitcoin ecosystem could move closer to mainstream adoption regardless of whether the Senate passes crypto legislation.

Saylor did not view the CLARITY bill failure as a limiting factor. He again said the SEC and CFTC can build market clarity under existing laws. He underscored that a legislative vacuum does not immediately stop market development.

He also said the stablecoin sector could continue making separate progress. He mentioned that the GENIUS bill could be a potential driver of stablecoin adoption. He also signaled the view that the broader crypto market does not move only according to the success or failure of a single bill.

On market reaction, the CLARITY bill failure boosted negative momentum in the short term, but Saylor’s message places weight on regulatory action and expanded participation by financial institutions. The next variables for the bitcoin market now depend not only on whether the Senate pursues additional legislation, but also on how far the SEC and CFTC will present clear standards within the existing system. How quickly banks actually expand bitcoin custody and collateralised lending also remains a factor that could shape the market’s direction.

With CLARITY stalled, I expect the SEC, CFTC, and Treasury to advance rules under existing law, banks to expand Bitcoin custody and loans against it, and more capital to favor Bitcoin and digital credit. GENIUS supports stablecoin adoption. Progress need not wait for Congress.