Crypto Blog
Bitcoin has had a wild ride this year. However, Bitwise Chief Investment Officer Matt Hougan sees a major shift in its trajectory.
However, Hougan asserted that the BTC market today is a different story. In his view, all the major existential risks associated with Bitcoin have been effectively mitigated. In particular, he pointed to the rise of regulated, reliable exchanges like Coinbase, as well as custodians like Fidelity offering institutional-grade services for Bitcoin.
The creation of this reserve implied that the US government has recognized Bitcoin’s potential as a strategic asset, even placing it as a backup in the event that the US dollar’s dominance as the world’s reserve currency comes into question.
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