Bitcoin Transitioning From Risk To Hedge Asset As Institutions and Governments Adopt BTC, Says Bitwise CIO
The CIO of the Crypto Asset Management Firm Bitwise says Bitcoin (BTC) is going through the next phase of its natural evolution.
In a new interview with Crypto Prime, Matt Hougan taught a major difference between the current Bitcoin Bull market and the one witnessed in 2020.
According to Hougan, the current market cycle is driven by major institutions that place the basis for the evolution of Bitcoin in a trusted value store.
“Bitcoin today is really different than Bitcoin five years ago. It was a Bitcoin driven by retail investors and indigenous people investors. It is especially a bitcoin driven by institutions, corporations, government and Macro hedge funds.
And you see it differently. You see it acting like a fence asset. I think it will be considered in front of our eyes. Bitcoin's teenager. 15 years old. It is at a phase of transfer from a risk of risk to a fence asset. But I think that's the direction of travel. I think you'll see it acting like more in the future.
And as it does, it will bring more investors here as it is a really useful tool in Macro Quiver. “
At the time of writing, Bitcoin traded $ 94,703.
https://www.youtube.com/watch?v=UBDBUDSXCKM
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