Public statements or policy actions by the new SEC Chair

SEC Chair Gary Gensler Labels Bitcoin Speculative in CNBC Exit Interview, Cites 7 Billion Traders

Jan 14, 2025, 03:56 PM

In an exit interview on CNBC, SEC Chair Gary Gensler described Bitcoin as a highly speculative asset but noted that 7 billion people want to trade it. He compared Bitcoin's potential longevity to that of gold, which has been valued for 10,000 years. During the interview, CNBC anchor Joe Kernen questioned Gensler's legacy on Bitcoin regulation, suggesting that Gensler's tenure made it difficult for positive developments in Bitcoin to occur. Kernen also humorously speculated that Gensler might own Bitcoin, to which Gensler responded that he has never owned any cryptocurrencies and has been consistent on this stance for 7 to 8 years. Gensler also criticized other cryptocurrencies, stating they need to demonstrate their use case and fundamentals to persist, unlike Bitcoin.