Key Takeaways
- Marc Andreessen warned that imposing downstream liability on software developers would be a “kill shot” for the crypto industry.
- Lookonchain interpreted Trump Media’s $165 million Bitcoin transfer as another sale, but the company said the assets were only moved to its designated custodian.
- Motley Fool analyst Dominic Basulto believes Bitcoin is an “unbelievable bargain” and has separately forecast a return to $126,000 within three years.
Bitcoin’s prospects for a return to its $126,000 record high have come back into focus as the industry confronts new regulatory concerns.
Andreessen Horowitz co-founder Marc Andreessen has warned that a developer-liability proposal under discussion during negotiations over the CLARITY Act could render open-source crypto development legally unworkable.
Meanwhile, Lookonchain said wallets linked to Trump Media transferred another 2,628 Bitcoin, worth approximately $165 million, to Crypto.com.
a16z’s Marc Andreessen Calls Developer Liability a ‘Kill Shot’
Andreessen issued the warning during a recent a16z podcast with a16z general partner Chris Dixon.
Host Robert Hackett raised an argument from former White House cybersecurity official Carole House that software developers should face greater responsibility for how their products are used.
Andreessen responded that such a standard would be “a kill shot to the industry.”
“It makes software development impossible,” he said.
Andreessen argued that developers cannot anticipate every future use of software created for a legitimate purpose.
He compared the proposal with holding a hotel operator responsible because a criminal planned an offense inside the building.
According to Andreessen, imposing liability for every downstream use would discourage developers from releasing products that can be used by large numbers of people for different purposes.
Dixon supported that position, warning against “unlimited downstream liability” for open-source developers.
However, he distinguished neutral software development from knowingly helping criminals. Dixon said developers who deliberately assist illegal activity should remain accountable.
Andreessen and Dixon remain strong supporters of the CLARITY Act, arguing that permanent rules passed by Congress would provide more certainty.
Did Trump Media Sell Another $165 Million in Bitcoin?
Lookonchain drew attention to two transfers from Trump Media-linked wallets totaling 2,628 BTC.
“It looks like Trump Media sold another 2,628 BTC ($165.07M),” the blockchain tracker wrote.
Under Lookonchain’s reconstruction, Trump Media initially acquired 11,542 BTC for approximately $1.37 billion at an average price of $118,522.
The tracker claimed the company had since sold 7,281 BTC for approximately $545 million at an average price of $74,855.
Based on those figures, the company would have realized a loss of roughly $318 million on the transferred Bitcoin.
However, the sale claim remains disputed.
A Trump Media spokesperson told The Block that the Bitcoin was transferred to Crypto.com but had not been sold.
Crypto.com and Anchorage Digital were selected as custodians when Trump Media established its Bitcoin treasury strategy in 2025.
Motley Fool Analyst Calls Bitcoin Price an ‘Unbelievable Bargain’
Despite the political and corporate uncertainty, Motley Fool contributor Dominic Basulto believes Bitcoin’s decline may have created a buying opportunity.
Basulto argued that Bitcoin has historically moved through four-year cycles consisting of approximately three years of growth followed by a sharp correction.
Bitcoin reached a then-record $69,000 in November 2021 before falling 64% during 2022.
It subsequently delivered major gains in 2023 and 2024 before reaching approximately $126,000 in October 2025.
Basulto suggested the current decline could therefore represent the expected downturn within another four-year cycle.
He also highlighted an apparent reduction in the severity of Bitcoin’s historical bear markets.
Drawdowns reportedly fell from 94% in 2011 to 86% in 2013, 84% in 2017, and 78% in 2022.
The largest decline recorded during the current cycle has been approximately 54%.
Basulto said the pattern could indicate that Bitcoin’s bear markets are becoming shallower as the asset matures and attracts more institutional participation.
What Would Bitcoin Need to Reach a $126,000 price?
In a separate July 29 analysis, Basulto predicted that Bitcoin’s price could regain its October 2025 record within three years.
His calculation used a starting price of $65,000 and assumed Bitcoin would grow at a compound annual rate of 25%.
Under those assumptions, Bitcoin would rise to approximately $126,953 after three years.
However, with Bitcoin now trading closer to $62,500, the required growth rate is slightly higher.
A move from $62,535 to $126,000 would represent an increase of approximately 101.5%.
Bitcoin would need to compound at roughly 26.3% annually over three years to reach the target.
At $126,000, Bitcoin’s market capitalization would be approximately $2.52 trillion, assuming a circulating supply of roughly 20 million coins.
That compares with around $1.25 trillion at current prices.
Passage of the CLARITY Act could also support the target by providing longer-term certainty for US crypto companies and financial institutions.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt's work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
