Dennis Porter Believes Market Structure Legislation Will Be a ‘Massive Boon’ for Bitcoin

The Bitcoin (BTC) advocate said that market structure legislation will be able to open “the flood gates” for capital.

Satoshi Act Fund co-founder, Dennis Porter, believes that market structure legislation will be a ‘massive boon’ for Bitcoin because it will bring in more capital.

In a recent post on April 15, the Bitcoin (BTC) advocate said that market structure legislation will be able to open “the flood gates” for capital. He believes that regulatory clarity will lure in more investors to inject capital inflows into the market, paving the way for a bullish season for BTC.

“Once signed into law, the flood gates will be wide open and the rush of capital will be like nothing you’ve ever seen before. Massively bullish for Bitcoin,” said Porter.

Hear me out. Market structure legislation will be a massive boon to the price of Bitcoin.

Once signed into law, the flood gates will be wide open and the rush of capital will be like nothing you've ever seen before. Massively bullish for Bitcoin.

But it's not hype, it's logic.

— Dennis Porter (@Dennis__Porter) April 15, 2024

Most recently, Senator Tim Scott, the chairman of the US Senate Committee on Banking, Housing, and Urban Affairs, said that the administration aims to have a crypto market bill formalized into law by August 2025.

Porter echoed this sentiment in a separate post when another X user asked him what the realistic time goal for the bill would be.

“The White House wants it done by August. We shall see,” said Porter.

The White House wants it done by August. We shall see.

But yes, they're working on it. It's no secret they're aiming to pass a crypto market structure bill this year.

And if they do, we're going to see some serious capital inflows into the crypto markets. Very bullish. https://t.co/nG72yZ2g7q

— Dennis Porter (@Dennis__Porter) April 14, 2024

At press time, BTC has gone up 1.4% in the past 24 hours of trading. The largest cryptocurrency by market cap is currently trading hands at $85,815. It reached a daily peak of $85,903 just a few hours prior. In the past week, BTC has gone up more than 8%.

How would a market structure bill benefit Bitcoin?

The market structure bill for crypto is a legislation that is meant to establish a clear regulatory framework for digital assets. Dubbed the crypto market bill, it seeks to divide oversight between federal agencies, by assigning securities-related tokens to the SEC and commodity-like tokens to the CFTC.

It also serves to create registration categories for crypto intermediaries such as exchanges and brokers.

If the crypto market bill gets passed, it has the potential to remove a lot of the regulatory uncertainty surrounding crypto that has long hindered institutional players from investing in the space. A massive increase in the flow of capital usually indicates a bullish season for the crypto market, especially BTC which is considered the staple asset.

Not only that, a surge in institutional adoption and new players entering the industry could increase demand for Bitcoin. Given its fixed and limited supply, a significant jump in demand push the BTC price to new heights.