Gensler declines to comment on Trump’s Bitcoin plans

Donald Trump plans to establish a Strategic Bitcoin Reserve for the United States if he is elected as the new president in November. The idea is to hold the Bitcoin that America currently owns, rather than sell it. Gary Gensler, chairman of the Securities and Exchange Commission (SEC), has an opinion on that.

What is Gensler’s opinion on Trump’s Bitcoin plans?

Unfortunately for us, the chairman of the SEC refused to speak out on Donald Trump’s Bitcoin plans. “I have an opinion, but given my role here and the fact that we are in an election season, I’m going to stick to my own duties and leave the rest to Federal Reserve Chairman Jerome Powell,” said Gary Gensler .

Gensler used to be someone who seemed fairly pro-Bitcoin. For example, he gave presentations about Bitcoin at universities. However, there was little sign of this during his chairmanship of the SEC.

Although we should also not forget that the Spot Bitcoin ETFs came to the market under Gensler. In that respect, we cannot say that he is completely against Bitcoin or opposes everything that has to do with crypto.

Of course, it is also good that there are people who take action against the many scams in the crypto world. After all, they also damage Bitcoin’s reputation and that is not good at all.

Where will Bitcoin be in 20 years?

Gary Gensler was also asked where he sees Bitcoin in 20 years. He found that question difficult to answer. The only thing he dared to say is that it is becoming difficult for the industry to build a relationship of trust with the general public.

Especially when there are so many scammers and scammers like there are now.

However, he forgets to mention that this scam mainly has to do with altcoins. Bitcoin has nothing to do with all that misery and people will learn that over time.

It is always the small coins where scandals occur and people simply buy a Pump & Dump. If that kind of misery disappears, it will also help Bitcoin, because Gensler is of course right that this development also damages Bitcoin’s reputation.