Gary Gensler, chairman of the SEC, just confirmed that Bitcoin is different in his eyes. You have bitcoin on one side and cryptocurrencies on the other. If you're a bitcoiner, this won't surprise you, because we've all been saying for a long time that bitcoin !=crypto.
But for those who haven't figured out why Bitcoin, it's always interesting to hear someone from the SEC state this truth: Bitcoin ! = Crypto.
The implications of what Gary Gensler just said are significant because it means that future SEC attacks on the cryptocurrency industry will not target Bitcoin. Bitcoin cannot be attacked by the SEC. Gary Gensler knows this and is talking about it.
Obviously, since the price of bitcoin on the spot market is determined by human psychology and emotion, you can still see the price of bitcoin drop with every announcement of an attack on the cryptocurrency industry by the SEC or another U.S. authority.
But in the long run, this confirms that Bitcoin isn't going anywhere and that Bitcoin is something you should turn to if you really want to protect the fruits of your labor.
In addition to this statement by Gary Gensler, you should also be aware of another important fact. Many institutions are waiting for more clarity on what the SEC plans to do regarding bitcoins. If the SEC confirms Gary Gensler's words, it means that the CFTC will probably take over the potential regulation of Bitcoin.
Once that is clearly established, you can expect a massive influx of capital from institutions into Bitcoin.
As an individual, this is not something that should worry you too much, in my opinion. Indeed, Bitcoin exists to give you back power over the fruits of your labor in a censorship-resistant way, protecting you from inflation.
Bitcoin ownership is a right, and you don't need government permission to do so.
The sooner you realize this, the better it will be for you, because you can save up in bitcoins and then little by little do things to live in bitcoins. There's still a long way to go, but the goal is clear: Hyper Bitcoinization of the world.
Time is on Bitcoin's side. And no one can stop the bitcoin revolution as long as people keep supporting it.