Gensler: All cryptocurrencies except Bitcoin are risky assets

Former U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler described all cryptocurrencies except for Bitcoin as highly speculative and risky assets in an interview with Bloomberg TV. He noted that while the public in the U.S. and globally has been captivated by crypto, investors should question the underlying or fundamental value of assets other than BTC. Gensler added that cryptocurrency is not a partisan issue and can ultimately serve to protect the strengths of U.S. capital markets. He also commented that finance inherently tends toward centralization, viewing the consolidation of a decentralized ecosystem as a natural process.