Former US Securities and Exchange Commission (SEC) Chair Gary Gensler has stated that Bitcoin (BTC) could continue to exist and thrive for a long time.
However, Gensler emphasized that this may not be the case for most altcoins, as they lack solid fundamentals.
Why Gary Gensler Believes in Bitcoin
In a recent interview with CNBC, Gensler mentioned that Bitcoin’s enduring presence could be attributed to its strong global interest.
“Something like Bitcoin may persist for a long time because there’s 7 billion people around the globe, a real keen interest in it,” he stated.
Gensler, who served as SEC Chair from 2021 to 2025, made these remarks in response to questions about the crypto industry’s reaction to the dismissal of lawsuits and investigations initiated during his tenure.
While at the SEC, Gensler took a hard stance on cryptocurrency regulation. He launched multiple enforcement actions targeting several exchanges, token issuers, and other crypto entities.
While he refrained from commenting directly on the dismissal of these cases, he shifted focus to broader trends within the cryptocurrency market.
“I’m going to step back a little bit from any individual cases and just say this again to your viewing public. This is a very small part of the financial markets, but if you were interested in this, think about every financial asset sort of trades on a bit of fundamentals and sentiment. But this field is almost 99, or maybe one might say 100% sentiment and very little on fundamentals,” said Gensler.
The former SEC chair advocated for careful asset risk assessment. He noted that the primary focus should be the project’s fundamentals. Moreover, he warned that many assets are driven predominantly by sentiment. As a result, he suggested that such tokens are generally unsustainable and likely to lose value over time.
When pressed on whether Bitcoin should be grouped with other cryptocurrencies, Gensler drew an analogy to precious metals. He implied that Bitcoin holds a unique position in the cryptocurrency world.
“There’s only two or three precious metals. We humans have a certain fascination with two or three precious metals like gold,” he remarked.
Gensler believes that the vast majority of cryptocurrencies, especially those driven by trends, memes, or social sentiment, will not attract lasting interest. He stressed that only a few, like Bitcoin, will stand the test of time.
These comments align with Gensler’s previous statements on the crypto market. In a January 2025 interview with CNBC, he acknowledged BTC’s volatility yet showed faith in its long-term prospects.
“With 7 billion people around the globe, 7 billion people want to trade it just like we do have gold for 10,000 years. We have Bitcoin. It might be something else in the future as well,” Gensler noted.
Despite the optimistic outlook, Gensler disclosed that he did not own any Bitcoin or other crypto assets.
Gensler’s remarks reflect ongoing debates about the legitimacy and sustainability of cryptocurrencies. While Bitcoin has gained traction as a store of value, many altcoins struggle to demonstrate the same level of acceptance.
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