According to ChainCatcher news and a report from The Block, Bitwise Chief Investment Officer Matt Hougan refuted market concerns about Bitcoin potentially entering a Bear Market. He stated that the value of Bitcoin lies in its role as a digital wealth storage “service” that does not rely on governments, banks, or other third parties.
Hougan believes that despite the recent market correction, the demand from institutions for this service continues to grow, supporting the long-term development trajectory of Bitcoin.
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Bitwise CIO Rebuts Bear Market Concerns: The Value of Bitcoin Lies in Its Digital Wealth Storage "Service"
According to ChainCatcher news and a report from The Block, Bitwise Chief Investment Officer Matt Hougan refuted market concerns about Bitcoin potentially entering a Bear Market. He stated that the value of Bitcoin lies in its role as a digital wealth storage “service” that does not rely on governments, banks, or other third parties. Hougan believes that despite the recent market correction, the demand from institutions for this service continues to grow, supporting the long-term development trajectory of Bitcoin.