According to renowned Twitter analyst and technical trading expert Zac Guignard, SEC chairman Gary Gensler is secretly a Bitcoin maximalist. In a recent viral Twitter thread, Guignard lays out compelling evidence that Gensler’s fascination with Bitcoin was first ignited during his time teaching a blockchain and cryptocurrency course at MIT.
Though his current regulatory role prevents him from openly championing Bitcoin maximalism, Guignard argues that Gensler’s actions as SEC chair point to a covert mission to advance the cause of Bitcoin while scrutinizing and condemning altcoins. For example, Gensler has clearly classified Bitcoin as the only true cryptocurrency commodity, separating it from the rest of the pack.
Guignard suggests that Gensler’s reluctance to approve a Bitcoin spot ETF is not because he wants to obstruct progress, but rather to ensure retail investors have ample opportunity to accumulate Bitcoin before institutions dominate the market. As a savvy Bitcoin supporter, Gensler understands that a spot ETF could allow institutional money to flood the market and drive up prices rapidly. By delaying approval, he is providing a window for everyday Bitcoin enthusiasts to buy and self-custody at more affordable prices.
Moreover, Guignard contends that Gensler recognizes the importance of individuals self-custodying their own Bitcoin rather than owning paper Bitcoin through funds and ETFs. Allowing this accumulation phase for retail is preserving the decentralized, democratic ethos that Bitcoin represents in Gensler’s eyes.
In conclusion, this perspective from respected trader Zac Guignard provides a thought-provoking take on Gensler’s stance towards cryptocurrencies. Guignard makes a compelling case using examples like the commodity classification that the SEC chair’s regulatory decisions may ultimately be more pro-Bitcoin than they appear on the surface, driven by a hidden passion for Bitcoin maximalism and desire to protect retail investor interests.
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy thetrades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com