The former SEC Chair just dropped his take on crypto markets during a recent appearance. Gary Gensler, who spent years wrestling with the industry, labeled most cryptocurrencies as highly speculative and volatile assets. But here's the twist—he carved out an exception for Bitcoin.

This distinction isn't new from him, but hearing it restated now feels different. The market's evolved, institutional money's poured in, yet his stance remains: one asset gets the nod, the rest stay in the "speculative" bucket. Whether you agree or not, his words still carry weight in regulatory circles.

What's interesting is the timing. As crypto pushes for clearer rules and broader acceptance, having a former top regulator draw such a sharp line between BTC and everything else shapes the conversation. It's a reminder that perception from the regulatory side still lags behind what's happening on-chain.