Gracy Chen: This Will Trigger Bitcoin's Bull Market

Chen says the coming weeks will be important for whether the U.S. advances a Bitcoin reserve and whether the Clarity Act passes, but midterm timing and the difficulty of bipartisan support leave both outcomes uncertain. The host says Clarity Act approval could bring more adoption or liquidity into crypto markets.

Chen says Bitcoin's rise from about $65,000 to $80,000 and the rapid shift in sentiment were not matched by a comparable change in fundamentals; she points to Trump's crypto conference and support for the Clarity Act while noting passage remained uncertain. Separately, the host reports renewed messages from people who had ignored crypto for two years and increased trading volume, while cautioning that this is anecdotal rather than a market-wide measure.

Chen sees blockchain's financial-infrastructure potential in stablecoins that could reduce some cross-border transaction and foreign-exchange fees—about 6% by the World Bank estimate she cites—and in tokenized stocks and commodities. She says tokenized private credit and money market funds currently have the highest penetration, at about 0.5% to 1%, describes collaboration with the NYSE and Nasdaq as an opportunity, and predicts real-world asset penetration could reach about 10% by 2030 and 20% to 30% by 2035.

Chen says many crypto-native applications have not fulfilled their promises and that many projects lack long-term sustainability; the host similarly argues that protocols and utility coins have struggled to generate value, with some projects facing selling after launch. The host says successful chains need a distinct utility people want to use, citing Zcash's privacy features as an example.