Gary Gensler: Cryptocurrencies Are 'Highly Speculative' Asset Class | Crypto Craft

  • Gary Gensler: Cryptocurrencies Are 'Highly Speculative' Asset Class

    From decrypt.co

    Gary Gensler, chair of the U.S. Securities and Exchange Commission (SEC), today described cryptocurrencies as "an asset class that's highly speculative" and that in many cases, "there is not something standing behind it other than what somebody else will pay for it." Speaking during a livestreamed interview with The Washington Post, Gensler added that the value of cryptocurrencies "could go down dramatically, they could go up dramatically." Gensler added that it is important for cryptocurrency innovation not to “undermine the stability of the system.” “I think it’s better to bring it inside the public ... (full story)

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TwoSense
Sep 21, 2021 1:52pm
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https://twitter.com/RaoulGMI/status/1440361603459735556 - Read this thread. This guy puts it in perspective. Gensler came out guns blazing today.
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DojiSan
Sep 21, 2021 4:35pm
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It is an asset class that is highly speculative, stored on a digital ledger... in often cases, there's not something else standing behind it other than what someone else will pay for it."

If he is talking about Fiat, then HE IS CORRECT!!!!
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