In his recent tweet, Max Keiser, podcaster and former trader, has quoted another major Bitcoin evangelist, Michael Saylor (former founder and former CEO of MicroStrategy), about Bitcoin getting picked by the head of the CFTC as the only commodity among crypto assets.
Max Keiser reminded his Twitter followers that he has been of that opinion since 2011 – when only two years had passed since Bitcoin emerged from the hands of the mysterious Satoshi Nakamoto.
Keiser once again praised president of El Salvador Nayib Bukele for making BTC the legal tender of his country last year. Still, this experiment with BTC looks more like a failure now. As of this summer, the country's BTC holdings plummeted 50% in worth after Bitcoin price dropped to the $20,000 level.
I’ve been saying this since 2011.
— M🌋X KEISER tweet poet & award winning journalist (@maxkeiser) December 1, 2022
If it’s not #Bitcoin, it’s a security. El Salvador’s new digital asset law makes this law. @nayibbukele understood this when he made #Bitcoin legal tender
Now the rest of the world is catching up.
El Salvador is leading the world. pic.twitter.com/1oZPzXAJmE
CFTC chairman calls Bitcoin the only commodity in crypto
Michael Saylor shared a link to an article in which Rostin Behnam, chairman of the Commodity Futures Trading Commission, stated that he believes the flagship crypto, Bitcoin, to be the only commodity on the crypto market. He added Ethereum, too.
The CFTC chair gave his speech during a crypto event at Princeton University, where he expressed big concerns about lack of regulation on the crypto market, giving the recent FTX collapse as an example of what the aftermath of this can be.
He urged lawmakers to act as quickly as possible in this respect, saying that neither players nor regulators in this market have "the luxury of waiting."
Godfrey Benjamin
Arman Shirinyan
Alex Dovbnya