### In a recent tweet, Michael Saylor, the CEO of MicroStrategy and a prominent Bitcoin advocate, stirred up controversy when he claimed that "everything but Bitcoin is a security." The tweet was in response to a New York Magazine piece that mentioned Gary Gensler's crypto crackdown and his meeting with Sam Bankman-Fried.

Saylor, who is worth billions of dollars thanks to his investments in Bitcoin, has been a vocal supporter of the cryptocurrency for years. It is no surprise that he is pumping Bitcoin and disregarding the rest of the crypto market. However, his recent claim is a bold assertion that has raised eyebrows in the crypto community.



<blockquote className="twitter-tweet"><p lang="en" dir="ltr">Consensus is building that everything in the <a href="https://twitter.com/hashtag/Crypto?src=hash&amp;ref_src=twsrc%5Etfw">#Crypto</a> industry other than <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is a security, destined to be regulated by the <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw">@SECGov</a>. This makes <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> the only crypto-asset suitable for use as global money.<a href="https://t.co/4XK6wWbz7G">https://t.co/4XK6wWbz7G</a></p>— Michael Saylor⚡️ (@saylor) <a href="https://twitter.com/saylor/status/1629919141585887233?ref_src=twsrc%5Etfw">February 26, 2023</a></blockquote> 

Saylor is one of many Bitcoin-only holders with the exclusive goal of spreading the narrative that Bitcoin is the only cryptocurrency with value. Although Bitcoin has undoubtedly been the most successful cryptocurrency to date, it is crucial to keep in mind that there are a number of other exciting projects in the crypto industry that are well worth looking into.



Furthermore, Saylor's claim that there is a consensus building around Bitcoin being the only non-security is inaccurate. Some within the legal community disagree with this assertion.  Lawyer John Deaton pointed this out: 



<blockquote className="twitter-tweet"><p lang="en" dir="ltr">Not true. Outside of <a href="https://twitter.com/GaryGensler?ref_src=twsrc%5Etfw">@GaryGensler</a>’s 🧠 and <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> Maxis, there’s no consensus everything other than <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> is a security. There certainly isn’t a consensus w/in the legal community. Software code is NOT a security. It, like any other asset, can be offered and sold as a security. <a href="https://t.co/MokmwLr7Ok">https://t.co/MokmwLr7Ok</a></p>— John E Deaton (@JohnEDeaton1) <a href="https://twitter.com/JohnEDeaton1/status/1630063820197490688?ref_src=twsrc%5Etfw">February 27, 2023</a></blockquote> 


One thing clear is that because of bitcoin, the US SEC is willing to concede that not everything created in the blockchain space falls under their jurisdiction. If there's a silver lining to the recent regulation-by-litigation style of the SEC, that's probably it. What do you think? Let us know in the comments!





In a recent tweet, Michael Saylor, the CEO of MicroStrategy and a prominent Bitcoin advocate, stirred up controversy when he claimed that "everything but Bitcoin is a security." The tweet was in response to a New York Magazine piece that mentioned Gary Gensler's crypto crackdown and his meeting with Sam Bankman-Fried.

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