Former SEC Chair Declares Bitcoin the Sole Worthwhile Crypto Asset

The vast majority of cryptocurrencies lack a real economic foundation and exist solely due to market expectations, according to former SEC Chair Gary Gensler in an interview with CNBC.

“The prices of most tokens are determined not by economic factors, but by speculative sentiment. This is dangerous,” he noted.

Gensler emphasized that Bitcoin remains the only recognizable asset in the industry:

“Seven billion people know about it. But who has heard of the 10,000 other tokens?” he stated.

In Gensler’s view, the crypto asset market resembles precious metals, where there are many options, but only gold and silver attract serious investment.

The former regulator also criticized Donald Trump’s tariff policy, noting that his administration inflicted “self-harm.”

Gensler stressed that risks associated with China remain elevated and could destabilize U.S. financial markets.

In January, the former SEC chair stated that he “never called” Bitcoin and Ethereum securities.