Bitwise CIO: US Crypto Reserve Will Mostly Include Bitcoin

Bitwise CIO Matt Hougan argues that the market is misinterpreting the impact of former President Donald Trump’s proposed strategic crypto reserve, suggesting that the initiative will ultimately be positive for digital assets despite experiencing initial volatility.

Hougan predicts that the final reserve will primarily consist of Bitcoin and will likely be much larger than the industry anticipates.

He also suggests that other countries might hasten their Bitcoin acquisitions in response, and once the US acquires its holdings, it is unlikely to sell them for an extended period, if ever.

Trump’s March 2 announcement, which outlined a reserve consisting of digital assets beyond Bitcoin, initially propelled BTC prices from $85,000 to $95,000.