Former US Securities and Exchange Commission (SEC) Chairman Gary Gensler recently made a strong assessment of the cryptocurrency market in an interview with Bloomberg. According to him, except for Bitcoin and some stablecoins whose value is Peg to traditional assets, most of the remaining cryptocurrencies are highly speculative and lack truly solid fundamentals. This makes thousands of Token on the market always in the group of assets with high risks for investors.
Gensler emphasized that Bitcoin is a special case when it has been viewed almost like a commodity in the legal context in the US. The decentralized structure, stable operation and lack of a centralized issuer make Bitcoin an asset with a completely different status from the majority of other cryptocurrencies. The former SEC Chairman said that investors should clearly distinguish this factor so as not to equate all Token and fall into the trap of price increases following short-term speculative waves.
