The Securities and Exchange Commission Confirms Bitcoin as a Commodity – Three Key Tips for Crypto Investors: InvestMacro

Written by George Pryor

Inevitable regulation of the cryptocurrency market is seen as an “important step closer” due to comments made Monday by US Securities and Exchange Commission (SEC) Chairman Gary Gensler, says Nigel Green, CEO of one of the world’s largest independent financial advisory organizations.

Speaking to CNBC’s Jim Cramer, Gensler said that Bitcoin will now be classified as a commodity.

Nigel Green says: “Gary Gensler’s comments erase years of debate. One of the world’s most influential regulators has now asserted that he views bitcoin as a commodity, in the same way that he considers gold, not a security.

The FSA said that many tokens in the market have the main features of securities, which puts them under the jurisdiction of the SEC, but not Bitcoin.

“As a commodity in the United States, bitcoin will be subject to oversight by the Commodity Futures Trading Commission.”

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The deVere CEO says there are three main points from the comments made by the SEC chief.

First, the SEC’s approach is to catalyze the stature of bitcoin, which has long been “digital gold.”

“Bitcoin is often referred to as ‘digital gold’ because, like the precious metal, it is a medium of exchange, a unit of account, a non-sovereign, decentralized, scarce, and store of value.”

He adds, “I think the world’s largest cryptocurrency will oust gold as the ultimate safe-haven asset within a generation, as millennials and younger investors, the so-called ‘digital natives,’ believe it competes better.

“Millennials are set to become an increasingly important market participant in the coming years, with the largest-ever wealth transfer — expected to be over $60 trillion — taking place from baby boomers to millennials.

In addition, our world is becoming increasingly technology-driven and cryptocurrencies are, of course, digital in nature.

Another major factor is the historical levels of money printing as central banks around the world attempt to prop up their economies in the wake of the pandemic’s fallout.

“If you are flooding the market with additional money, you are actually devaluing traditional currencies — and this, and the risk of inflation, are legitimate concerns for a growing number of investors looking for alternatives.”

Nigel Green continues: “Secondly, Gensler said that US regulators, which include the Securities and Exchange Commission and the Commodity Futures Trading Commission, have a lot of work to do in order to introduce comprehensive laws that will protect the investment public.

This is a clear sign that financial regulators are moving towards regulating the sector. As I’ve said for a long time, I think this is inevitable – something I support as cryptocurrencies are increasingly becoming a part of the mainstream global financial system.”

He was previously quoted by the media as saying that “proportional regulation” must be defended as it will help protect investors, support the market, tackle criminality and reduce the potential for disruption of global financial stability, as well as provide the potential for long-term economic boost to those countries that provide it.”

Third, the broader crypto sector will take the Securities and Exchange Commission chief’s comments as bullish. We can expect prices to rise gradually.”

Despite the current volatility, like many long-term crypto investors, Nigel Green says he is still amassing bitcoin. “I am using volatility as a buying opportunity; I am stacking my investment portfolio at a lower price.

“Why am I still buying bitcoin? Because I am confident that digital, global, decentralized, decentralized and non-manipulable money is the future without borders.”

The deVere CEO also doubles down on his earlier price predictions: “I remain confident that Bitcoin may have a tough summer, but it could experience an upward struggle in the fourth quarter.”


deVere Group is one of the world’s largest independent advisors for specialized global financial solutions to high-income and high-income international and local clients. It has a network of more than 70 offices worldwide, more than 80,000 clients and $12 billion under advice.

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