Gary Gensler’s Hilarious Warning: Altcoins Are Like Bad Jokes – Nobody’s Laughing!

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Oh, gather ’round, dear friends, for a tale of woe and whimsy! The illustrious Gary Gensler, once the grand poobah of the U.S. Securities and Exchange Commission (SEC), has donned his crystal ball and peered into the murky waters of the crypto world. And what does he see? A veritable graveyard of non-Bitcoin (BTC) assets, all looking rather forlorn and dreary! 😱

In a delightful chat on CNBC’s Squawk Box, our dear Gary declared that most altcoins are as sturdy as a house of cards in a windstorm. Why, you ask? Because they’re held up by nothing but the flimsy threads of sentiment! One little gust, and *poof*—down they go! 🎈

“If you’re tickled by the idea of crypto,” he mused, “just remember that every financial asset usually has a sprinkle of fundamentals and a dash of sentiment. But in this wacky world, it’s more like 99% sentiment and a measly 1% fundamentals! It’s like trying to build a castle out of jellybeans!”

“Now, think about those 10,000 or 15,000 other tokens. What are their fundamentals? A good question, indeed! It’s like asking what’s the secret ingredient in a mystery stew!”

When the curious hosts inquired if Bitcoin (BTC) was a different kettle of fish, Gary likened it to gold—yes, the shiny stuff that everyone loves! Out of all the precious metals, it seems folks only have eyes for gold and silver, while the rest sit in the corner, sulking. 🥇

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2025-04-16 23:04