Ah, Gary Gensler, the once mighty shepherd of the SEC flock, now wanders the carnival of cryptos with a squint and a sigh. “Most digital assets,” he murmurs as if reading from a weathered tome, “are but wisps of sentiment — nearly 100%,” leaving their foundations as shaky as a leaf in a storm.
On CNBC’s Squawk Box — because where else would one gather to discuss financial ephemera while chewing your morning cereal? — he warns us: altcoins are like a house of cards on a windy day, ready to collapse at the slightest puff.
A Love Letter to Bitcoin’s Endurance
“If you fancy dabbling,” says Gary, “remember that most assets trade on both sentiment and grip on reality, but crypto? It’s like a soap bubble trying to masquerade as a diamond.”
He chuckles (in spirit) at the idea that we might cling to thousands of meme tokens like some digital hoarders. “Who really wants 15,000 different flavors of ‘Will this pump or dump?’” he wonders.
“Let’s be honest, tokens fueled only by hype are doomed to the dusty corners of financial history.”
Still, he gives a nod to Bitcoin—the chosen one, the stubborn flame resisting the gale. Seven billion eyeballs worldwide seem to find charm in its endurance, like a timeless folk song hummed across generations.
“Bitcoin might just outlast your grandma’s ancient family recipes,” he quips, comparing it to gold—the oldie-but-goodie precious metal that refuses to quit the party.
Tariffs, Diplomacy, and AI: The Plot Thickens
Venturing beyond cryptoland, our weary sage turns his gaze to the U.S.-China tariff tango. Though America holds the world’s deepest financial oceans, current storms of uncertainty swirl close to shore, evidenced by digital assets hemorrhaging nearly $800 million faster than you can say “trade war.”
Recalling bartering sessions with Chinese officials, Gary admits the past wasn’t always a symphony of rules but, thanks to bipartisan choreography, they managed to keep the dance mostly in step.
He waves a caution flag about the slippery quagmire ahead — where inconsistent messaging sends China ducking behind the curtain, leaving us all guessing.
Back at MIT Sloan, he now teaches machines and mortals alike about AI’s creeping dominion over the market stage, calling it the “most transformative tech of our era,” though it’s still too slow for the flashiest traders.
“In five to twelve years,” he prophesies, “algorithms might steal the spotlight, but humans will still hold the script.”
So there you have it: a cryptic dance of dollars, data, and diplomacy, delivered with a wink and a smirk from the man who’s seen the SEC’s shadow up close. 💼🤖💣
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2025-04-18 00:48