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In a recent candid conversation with Bloomberg, Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), revealed his concerns about the volatility of cryptocurrencies, especially Bitcoin and Ether.
Gensler emphasized that,
"This is a highly speculative asset class."
His comments outlined the roller-coaster price fluctuations and clarified the SEC's stance in this dynamic landscape.
Pressing concerns
Amid growing concerns about the reliability of cryptocurrency investments, Gary Gensler's recent warning proved to be timely. In the conversation, he also highlighted the volatile trajectory of cryptocurrencies, particularly citing Bitcoin's recent turbulent journey.
Gensler pointed out,
"We can look at the volatility of Bitcoin over the last few days."
He also likened Bitcoin's trajectory to a roller coaster, implying that Bitcoin prices could drop at any moment. This outlines the risk nature of cryptocurrency investments, especially for those who prefer stable financial choices.
What else?
Gensler's exploratory questions about the fundamental stability of digital assets further raised concerns about the robustness of their infrastructure.
"How strong is its foundation? You know, you get up to the peak. How's the foundation underneath it?"
In conclusion, despite repeated inquiries, particularly regarding the regulatory classification of Ethereum, he stated that it depends on,
"Whether the investing public is relying on the efforts of others for profits." |
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Post time 17-3-2024 20:34:34