The Clarity Act, one of the most important legislative bills regarding cryptocurrency regulation in the US, is nearing its conclusion.
At this point, bipartisan negotiations on the Clarity Act, also known as the Transparency Act, have failed. However, Eleanor Terrett, host of the Crypto in America program, stated that it seems likely the Republicans will be able to push the bill forward on their own.
While the passage of the CLARITY Act is eagerly awaited in the cryptocurrency market, legendary investor and financial advisor Ric Edelman says that the CLARITY Act could be a significant turning point for Bitcoin ($BTC) and the cryptocurrency market.
At this point, Ric Edelman believes that the CLARITY Act will soon come into effect.
Speaking to John Gillen on the Milk Road podcast, Edelman stated that the CLARITY Act could trigger Bitcoin’s next major surge. According to Edelman, the passage of the CLARITY Act would mean Wall Street giving cryptocurrencies the full green light.
In this context, Edelman stated that he believes Bitcoin could surpass $150,000 before the end of 2026 as institutions enter the cryptocurrency market.
Edelman also offered advice on how investors can proceed with cryptocurrency allocation. Instead of backing a single asset, he said investors can choose different strategies depending on their risk tolerance and market outlook.
At this point, leading institutional bull Michael Saylor acknowledged the rationale for holding only Bitcoin, but also highlighted the growing use cases of Ethereum (ETH) and Solana (SOL) alongside $BTC.
Edelman concluded by citing Morgan Stanley as a prime example of significant institutional interest following the passage of the CLARITY Act. He noted that Morgan Stanley manages approximately $7 trillion in assets and has encouraged its advisors to begin allocating a small percentage of their portfolios to cryptocurrencies.
“3% of $7 trillion would cause the price of Bitcoin to skyrocket.”
*This is not investment advice.
