James Thorne, Chief Market Strategist at Wellington-Altus Private Wealth, claims the CLARITY Act should not be viewed solely as market structure legislation, but as a matter of U.S. national security. He warns against repeating the semiconductor mistake, where the United States created strategic dependencies by allowing industrial capacity to relocate offshore. He points out that regulatory uncertainty could force blockchain developers, exchanges, and tokenization platforms beyond U.S. borders, allowing China to set global digital asset standards. Bitcoin has fallen by 50% from its $124,500 all-time high in October 2025, but Thorne views this decline as a temporary fluctuation rather than a failure of BTC’s monetary thesis.
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