Bitcoin’s price witnessed a notable rise on Thursday, nearing the $81,400 mark with intraday peaks approaching $82,000, reflecting an increase of over 3% in the past 24 hours amid a robust trading volume exceeding $1 billion. This surge is largely attributed to a pivotal development in the U.S. legislative landscape as the Senate Banking Committee advanced the Digital Asset Market Clarity Act, which passed with a vote of 15-9. The bill garnered support from Senators Ruben Gallego of Arizona and Angela Alsobrooks of Maryland, along with all 13 Republican committee members.
The proposed legislation, designated as H.R. 3633, aims to establish a federal framework governing digital asset trading, including stablecoins and intermediaries. It seeks to create a division of oversight responsibilities between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) and lays out registration, disclosure, and compliance requirements for exchanges, brokers, and custodians. Committee Chair Tim Scott characterized the advancement of this bill as a significant shift after years of uncertainty for crypto firms operating in a “regulatory gray zone” defined by outdated regulations. He emphasized the bill’s potential to stimulate domestic innovation while enhancing oversight to combat criminal activities involving digital assets.
Senator Cynthia Lummis, who heads the committee’s digital assets panel, described the Clarity Act as the most challenging bill of her career and noted its unique focus on integrating new software-based assets into existing financial law frameworks. However, opposition within the committee was led by Ranking Member Elizabeth Warren, who argued that the bill undermines securities protections, overrides state anti-fraud regulations, and permits banks to assume significant crypto exposure, reminiscent of risks leading to the 2008 financial crisis. She criticized the framework as favoring corporate interests over consumer protection and raised alarm over potential ethics and national security issues, particularly in light of President Donald Trump’s ties to cryptocurrency businesses.
Amid these legislative developments, two firms, Strategy Inc. and Strive, reported substantial growth in Bitcoin-linked credit products. Strategy Inc.’s STRC preferred stock has been expanding its Bitcoin acquisition strategy, with the latest figures from the Bitcoin for Corporations’ live STRC ATM Tracker indicating total issuance volume surpassing $1.24 billion. This has resulted in the acquisition of approximately 11,709 BTC and an effective yield of 11.5%, with a capture rate nearing 80%. As a result, STRC has become one of the most significant corporate Bitcoin purchasers on record.
Meanwhile, Strive’s SATA preferred stock has initiated its own innovative yield design, revealing plans to distribute cash dividends daily starting in June while sustaining an annual rate of 13.00%. This structure is expected to yield an effective return of approximately 13.88% through daily compounding. SATA holds a debt-free balance sheet, flaunting over 15,000 BTC and achieving an 11.1% Bitcoin Yield for the first quarter of 2026.
As Bitcoin hovers near the $82,000 threshold, analysts from Bitfinex conveyed insights to Bitcoin Magazine, noting a shift in market dynamics. The funding rate, previously a dominant signal, appears to have diminished in relevance, leading analysts to focus on options positioning as Bitcoin approaches the $80,000 range. They indicated that the current price movements are now primarily driven by ETF demand and market accumulation rather than STRC-related purchases. Notably, long-term “conviction buyers” are holding close to four million BTC, marking the most significant increase in this cohort since the onset of the COVID-19 pandemic, which is expected to further tighten Bitcoin’s circulating supply and potentially drive the price upward.
