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07/16 08:50

Bitwise CIO Matt Hougan Says Worries Over US Dolla

Bitwise CIO Matt Hougan Says Worries Over US Dollar and Money Printing To Accelerate One ‘Megatrend’

Matt Hougan, the chief investment officer (CIO) of crypto asset management firm Bitwise, says concern over US dollar weakness is creating one massive Bitcoin (BTC) trend. In a new interview on CNBC Television, Hougan says that more public companies are buying Bitcoin to hold on their balance sheets as a hedge against the declining strength of the dollar due to money printing and other factors. “We think this is a megatrend that’s going to accelerate into the future. One [reason], of course, is increased worries about the dollar. Corporations globally are sitting on record amounts of cash and what they’ve historically done is park it in short-term US Treasuries or, in fact, in cash accounts. But with the huge money printing and growing deficits, that no longer seems like a valid approach. They need ..

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