To be honest, I'm not sure. Securities law isn't a simple thing. Just the act of buying up a large supply of a coin definitely doesn't make it a security.
So my first guess is "no, it's not a security" still.
But there are various nuances here, so I'll leave this to the lawyers to waste their time thinking about. I've got more useful things to build :-)
Hey that is a great attitude :) On to bigger and better things. Cheers