Investment strategist Lyn Alden recently derived an opinion that Ethereum (ETH) is likely a security based on the Howey Test. This sparked a discussion about the legal implications of asset classifications and whether or not cryptocurrencies should be regulated. During this conversation, Alden explained that commodities do not need a group of developers to be unstaked, as compared to a security. Meanwhile, she compared Bitcoin, which has not had an ICO and did not need a group of developers to voluntary (soft fork) updates for the protocol.

The debate involving Ethereum and its classification was joined by Real Vision CEO Raoul Pal, who asked if Alden's view on Ethereum was an April Fools' joke. She clarified that the statement was not a joke, and expressed her opinion that Ethereum is a security according to the Howey Test.

Alden further commented on the jurisdictional feud between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC), choosing not to side on the matter personally. She focused instead on understanding the likely outcomes of legal actions, rather than expressing any bias.

Recently, Alden shared her take on Bitcoin during an interview for the Swan Bitcoin YouTube channel. She expressed her concerns about possible difficulties the U.S. Treasury may face if it attempts to withdraw liquidity from the market by the second half of the year. In spite of these concerns, Alden labelled Bitcoin as an attractive investment opportunity from a three to five-year perspective with its current deep value zone from various metrics. She also suggested monitoring the fundamentals of Bitcoin's network as well as assessing its health before investing. Overall, Alden considers Bitcoin a strong buy.



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