Bitcoin Will Survive While Most Altcoins Will Fade Away, Says Former SEC Chair Gary Gensler

The crypto market had a mixed day on Thursday after US Fed Chair Jerome Powell warned that new tariffs could slow economic growth and push inflation higher.

The crypto market saw a mixed day on Thursday, with slight gains seen in Bitcoin and Ethereum, while the overall crypto market cap also edged up. Some altcoins like XRP, Solana, Dogecoin, Cardano, and Chainlink posted decent gains of up to 4%, but others like BNB, Tron, Sui, Litecoin, and NEAR saw drops of as much as 3%.

Former SEC Chair Gary Gensler has once again drawn a sharp line between Bitcoin and the rest of the crypto market, saying Bitcoin is here to stay while most altcoins are likely to fade away.

Speaking at a recent CNBC interview, Gensler highlighted Bitcoin’s strength lies in its global appeal, adding that people are largely getting interested in it throughout the world. He further drew a comparison with gold and how it has been valued for centuries. According to him, Bitcoin stands out like one of the “precious metals” that humans have always been fascinated by, which could explain why it may survive the test of time.

However, Gensler warned that most altcoins lack strong fundamentals and the market relies heavily on sentiment. He stated that nearly 100% of crypto assets are being traded on hype rather than their intrinsic value, rendering many of these assets unsustainable and liable to lose value over time.

Without naming specific tokens, Gensler advised investors to focus on the fundamentals of each project. He pointed out that the real issue is the lack of substance to back most altcoins despite the hype they generate. This aligns with his tough stance on crypto during his tenure at the SEC from 2021 to 2025, where he led the enforcement actions against various crypto firms and exchanges.

Interestingly, despite his belief in Bitcoin’s longevity, Gensler disclosed that he doesn’t own any crypto personally. Still, he acknowledged Bitcoin’s resilience and likened it to gold once again. In his view, only a select few assets like Bitcoin will attain global recognition and last in the long run.

Gensler’s comments come at a time when Bitcoin continues to be positioned as a digital store of value, especially amid a broader narrative of investor skepticism toward the broader altcoin space.