Max Keiser attacks altcoins at all are security, praising El Salvador’s president for adopting Bitcoin as legal tender

A significant proponent of Bitcoin, Michael Saylor (former founder and former CEO of MicroStrategy), has been quoted by podcaster and former trader Max Keiser regarding how the head of the CFTC chose Bitcoin as the lone commodity among crypto assets.

Max Keiser

Max Keiser Claims All Crypto But Bitcoin Are Securities, Here’s Why

Keiser reminded his Twitter followers that he had held that belief since 2011, just two years after the enigmatic Satoshi Nakamoto released Bitcoin into the world. Keiser once more commended Nayib Bukele, the president of El Salvador, for establishing BTC as the nation’s official currency in 2017. However, the failure of this BTC experiment is becoming increasingly apparent. The value of the nation’s BTC holdings as of this summer fell by 50% as the price of Bitcoin fell to $20,000 per coin.

The CFTC chair spoke at a cryptocurrency event at Princeton University. He raised grave concerns about the absence of regulation on the cryptocurrency market and used the recent FTX collapse as an example of what the consequences could be. He exhorted lawmakers to take action as soon as possible in this area, stating that neither market participants nor regulators have “the luxury of waiting.”

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