Donald Trump’s Bitcoin, Ethereum, XRP Reserve Is ‘Imperfect’ But Bullish, Says Bitwise’s Matt Hougan
Bitwise Chief Investment Officer Matt Hougan on Wednesday that despite a bumpy rollout, President Donald Trump‘s strategic crypto reserve announcement remains bullish for the market, a view tempered by industry critique over its scope.
What Happened: Unveiled on Sunday, the reserve—set to include Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL), Ripple (CRYPTO: XRP), and Cardano (CRYPTO: ADA) triggered a swift market reaction, with Bitcoin climbing from $85,000 to $95,000 before relinquishing all gains by Monday.
Hougan argues that the market’s souring on the diverse asset mix overlooks the policy’s long-term potential.
In a Tuesday blog post, Hougan addressed the backlash, including from Bitwise CEO Hunter Horsley, who tweeted on Sunday, “I imagined a Strategic Reserve would be just Bitcoin. …
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