Such a statement seems very accurate and it is true that Bitcoin already has a clear status at the regulatory level and there are many clear and well-defined regulations on the main cryptocurrency, however most of the alternative currencies are not certain what they really are. If they are commodities or securities, we can give as an example the particular case of the SOL cryptocurrency which has just been named as an unregistered security and the Solana Foundation disagrees stating that the cryptocurrency in question is not a security "The Solana Foundation strongly believes that SOL is not a security. SOL is the native token of the Solana Blockchain network, a robust, open source, community-supported software project that relies on the decentralized participation of users and developers to expand and evolve." That diatribe definitely creates fear among investors and the cryptocurrency has had a plunge of more than 15% in its value in the last 24 hours, the same happens with other cryptocurrencies,
Difference between a commodity and a security
A commodity refers to a type of good, either a physical product such as gold or oil, or a digital asset such as bitcoin (BTC). Commodities are tradable in the market and their value is based primarily on market forces, supply and demand.
Security. represents an interest, a right in the assets of a company, or a contractual obligation, and is expected to provide some kind of return or benefit to its holder. Stocks, bonds, and mutual funds are typical examples of securities.
Bitcoin is thought to
bitcoin emerges as an oasis of stability. Already defined as a commodity by the U.S. Commodity Futures Trading Commission (CFTC), the regulatory path for BTC is much clearer and investors are almost certain to seek refuge in the reigning BTC currency, resulting in a movement of capital from altcoins to bitcoin.
Cyptocurrencies that are not launched with ICOs such as BTC are considered commodities, instead Instead, when a cryptocurrency is launched through an initial coin offering (ICO), where investors contribute money with the expectation of making profits derived from the efforts of the cryptocurrency's developers, the SEC generally considers it a valuable security that is where the diatribe lies.
Potential capital shift from altcoins to bitcoin,
It will make it likely that we will see bitcoin further consolidate its market, with a consequent increase in its capitalization.