Bitwise CIO: US Crypto Reserve Will Mostly Include BTC
Bitwise CIO Matt Hougan contends that the market is misunderstanding the potential effects of former President Donald Trump’s proposed strategic crypto reserve, asserting that the initiative will ultimately have a positive impact on digital assets despite initial market fluctuations.
Hougan anticipates that the final reserve will primarily consist of Bitcoin and will likely be much larger than the industry currently expects.
He also suggests that other countries may expedite their own Bitcoin acquisitions in response, noting that once the US acquires these holdings, it is unlikely to sell them for a considerable period, if ever.
On March 2, Trump’s announcement of a reserve including digital assets beyond Bitcoin initially drove BTC prices up from $85,000 to $95,000. However, by March 3, prices had retreated amid growing skepticism about the inclusion of altcoins and increasing geopolitical tensions.
