Gary Gensler says Bitcoin remains 'speculative and volatile'

Former SEC Chairman Gary Gensler, in an interview with Bloomberg, stated that most cryptocurrencies, except for Bitcoin, are high-risk and speculative assets because the majority of tokens lack a solid fundamental basis.

He emphasized that, from a legal perspective, Bitcoin is similar to a commodity, while thousands of other tokens require investors to approach them with caution.

Gensler warned that the lack of transparency and real underlying value makes these tokens highly risky, setting them apart from Bitcoin, which features a mining system, limited supply, and higher liquidity.

He called on investors to be well-informed and carefully evaluate before participating in the token market, while also stressing the role of regulators in protecting participants from speculative products lacking a solid foundation.