Bitcoin rallied even after a U.S. Senate cloture vote on the Clarity Act failed to advance, and entrepreneur Gary Cardone says the episode underscores a pattern he has been watching: bad news for bitcoin has been acting as bullish news.

The Clarity Act is proposed U.S. legislation intended to establish a clear regulatory framework for digital assets in the United States. Its setback in the cloture vote — the Senate procedure required to end debate and move to a final vote — was followed by a bitcoin rally rather than a selloff. Because the bill did not clear that procedural step, advancing it would require further Senate action, leaving the framework it aims to establish still pending even as the market moved higher.

Cardone, co-founder of payments-integrity firm Chargebacks911, shared his outlook in an interview with Bitcoin Magazine. He argued that $75,000 will hold as a floor and said he keeps standing bids set at $66,000 and $68,000 in case the market moves lower — standing bids being pre-placed buy orders that fill only if the market trades down to those levels. He added that he would welcome one more retest of the low $70,000 range, arguing that investors do not need to chase the asset at current prices.

Capital Rotation and the Push Toward $126K

Cardone pointed to capital rotating into artificial intelligence as context for what he described as bitcoin's weak push toward $126,000.

His STRC Position and Bitcoin Dividends

A central topic was STRC, a preferred stock issued by Strategy (formerly MicroStrategy), the publicly traded company known for holding large amounts of bitcoin on its balance sheet. Cardone said he has parked his own money in STRC and collects roughly 10 to 12 bitcoin from its dividends. He also compared STRC with other preferred instruments on liquidity, yield, and tax treatment — the same criteria that typically separate one preferred instrument from another in practice.

Skepticism Toward Extreme Price Targets

Cardone dismissed $1 million to $5 million bitcoin price targets as a bad pitch. Instead, he examined bitcoin's real supply and laid out what he regards as a realistic market cap target.

Wall Street and the New Guard

On the structural side, Cardone argued that Wall Street is taking over bitcoin “for good,” pointing to a “new guard” of institutional participants and to arbitrage opportunities between bitcoin and the fiat financial system. Strategy's own bitcoin-heavy balance sheet is one visible example of the traditional-finance footprint he was describing. He closed by describing what genuine bitcoin mass adoption would look like.

Interview Chapters

• 0:00 — Gary Cardone on Bitcoin's rally after the Clarity Act vote failed
• 1:38 — Capital rotation to AI and Bitcoin's weak push to $126K
• 2:23 — Why Gary Cardone parked his money in STRC
• 3:13 — Collecting 10–12 bitcoin from STRC dividends
• 3:55 — Why you don't need to chase Bitcoin — his $66K and $68K bids
• 4:51 — STRC vs. other preferreds liquidity, yield, and tax treatment
• 6:21 — Why $1M–$5M Bitcoin price targets are a bad pitch
• 8:05 — Bitcoin's real supply and a realistic market cap target
• 10:05 — Wall Street, the new guard, and Bitcoin–fiat arbitrage
• 11:05 — What real Bitcoin mass adoption looks like

DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.

The full interview, Gary Cardone: Wall Street Is Taking Over Bitcoin — For Good, was published by Bitcoin Magazine and written by Patrick Green.