Bitwise Matt Hougan, Chief Investment Officer, President Donald Trump’s US Strategic Bitcoin He believes that Bitcoin officially survived the last existential risk after his latest decree on the establishment of a reserve.
Bitwise CIO: Trump’s strategic Bitcoin reserves BTC as a ‘best backup plan’
In a note he sent to his customers, Hougan stressed that this move represents a historical turning point for Bitcoin and positions Bitcoin as the most appropriate means of protection against global financial uncertainty.
Bitcoin currently constitutes 1.3 %of the $ 128 trillion -dollar global money supply, with the fact that the presence has reached the level of legitimacy, which was once thought to be impossible.
Hougan told Bitcoin’s first encounter when it exceeded the $ 1 limit in 2011. He said that investing in BTC at that time was like buying lottery tickets, considering the storage, arrangement and technological challenges.
In spite of the initial risks, Bitcoin gradually exceeded obstacles such as release of Coinbase in 2011, providing corporate storage services of companies such as Fidelity, and launching Spot Bitcoin ETFs last year. However, a great concern continued.
According to Hougan, this concern disappeared on March 6 when Trump signed a decree that made up the US strategic Bitcoin reserve. Reserves will be composed of Bitcoin, which is seized in penalties or law cases, and will initially keep about 103,500 BTC.
94.636 BTC seized in the Bitfinex attack is expected to be returned to the stock market, while the US government will expand ways to expand Bitcoin assets with independent strategies from the budget.
Corporate adoption is increasing
According to Hougan, Bitwise realized that there was an increase in institutional allocations to Bitcoin after the US government’s approval.
Many customers have previously invested in Bitcoin at a rate of 1 %, while this figure has increased to 3 %today, and more investors expect this ratio to reach a level of 5 %or higher as they realize that the risks associated with BTC decreases.
*It is not an investment advice.
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Source: https://www.bitcoinsistemi.com/bitwise-ciosu-matt-hougan-bitcoini-en-iyi-yedekleme-plani-olarak-goruyor-iste-nedeni/
