Former SEC Chairman Gary Gensler, who has previously expressed a critical view of cryptocurrencies, has reiterated his stance on digital assets, highlighting Bitcoin as a notable exception in a market he largely considers risky.
Speaking in an interview with Bloomberg TV, Gensler stated that all cryptocurrencies, with the exception of Bitcoin (BTC), should be viewed as risky assets.
Despite ongoing developments and increasing adoption in the cryptocurrency space, Gensler's perspective remains consistent. He continues to describe all cryptocurrencies other than Bitcoin as highly speculative and inherently risky.
Gensler pointed out that while there is significant support for cryptocurrencies both within the United States and globally, investors should carefully examine the fundamental value and underlying principles of digital assets beyond Bitcoin.
“The American public and the global public are fascinated by cryptocurrencies. However, these are highly speculative and volatile assets.
“Here, you have to look at what the fundamentals of other tokens are, what the underlying thing is, with the exception of Bitcoin.”
Gensler further commented that the discussion around cryptocurrency is not a partisan issue and suggested that it could ultimately contribute to strengthening the U.S. capital markets.
He also observed that the nature of finance often leans towards centralization, and he views the consolidation within a decentralized ecosystem as a predictable and natural progression.