A US senator who is a crypto supporter, bitcoinbelieves that is the standard for all other cryptos, and XRPimplies that it may be a security
US Senator Cynthia Lummis from Wyoming, on the Squawk Box program hosted by CNBC, Bitcoin (BTC) dogecoin (DOGE), talked about XRP and other digital currencies.
Lummis believes that Bitcoin is here to stay, although the same is not true for other cryptocurrencies.
“Altcoins Should Be Watched Differently From Bitcoin”
Senator Lummis, who is known for his pro-BTC stance, was asked during the program whether any other cryptos whose prices appear on the screen (including Dogecoin, XRP, Litecoin and Ethereum) besides Bitcoin could be permanent in the market.
Answering the question, the senator stated that he believes Bitcoin is the standard for crypto and is definitely here to stay. As for the other top altcoins mentioned above, he stated that they should be tracked differently because they are created differently. He mentioned that Bitcoin is completely decentralized and implied that other coins mentioned may not be the same.
In particular, the Senator spoke of a cryptocurrency that circulates in large sums issued by an individual or organization and held by an emitter. Although Lummis did not name the cryptocurrency he mentioned, he stated that such crypto assets could be a security.
While the Senator did not directly mention XRP or Ethereum, he listed the key features usually associated with these coins. He also stated that he is confident that Bitcoin is definitely a commodity and digital gold.
“I do think that #bitcoins is here to stay, and I think a lot of the others are not,” says @SenLummis. “#Bitcoin is the standard. Everything else has to be monitored differently because they are created differently.” pic.twitter.com/yvWvz0hjFm
— Squawk Box (@SquawkCNBC) November 2, 2021
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.