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XRP, Solana (SOL), Cardano (ADA), Ethereum (ETH)… Famous Bitcoin Supporter Rang the Alarm Bell for Altcoins!
Michael Saylor, founder and president of US-based software company MicroStrategy, once again emphasized his belief that Bitcoin (BTC) is the most important cryptocurrency in the market. Saylor, known for his vocal support for Bitcoin, issued a warning to cryptocurrency investors reminiscent of the legendary scene in "Indiana Jones and the Last Crusade" and invited them to "choose wisely" when evaluating investment options other than BTC.
A Bitcoin maximalist, Saylor has been a supporter of MicroStrategy's regular BTC purchases for the past four years and continues to defend the largest cryptocurrency as on day one. Although he has refrained from openly criticizing altcoins like some other prominent names, Saylor recently announced that some altcoins, including #XRP , #Solana (SOL), #Cardano (ADA), and #Ethereum (ETH), have been declared unregistered by the U.S. Securities and Exchange Commission (SEC). He expressed the opinion that it could be classified as securities.
MicroStrategy CEO believes that all altcoins may soon be officially designated as securities. For him, this reinforces his belief that Bitcoin is the only cryptocurrency launched for long-term success. Bitcoin is currently the only cryptocurrency classified as a commodity by both the #SEC and the US Commodity Futures Trading Commission (CFTC), giving it a unique regulatory status.
Although altcoin king Ethereum also shares this status, recent statements by SEC Chairman Gary Gensler have raised doubts about its classification. As a matter of fact, regulatory pressure on altcoins and cryptocurrency exchanges in the USA has increased in recent years, leading to increased scrutiny.
