Public Company Bitcoin Holdings Are A ‘Megatrend’ Just Getting Started, Says Bitwise’s Matt Hougan
Matt Hougan, Chief Investment Officer at Bitwise Asset Management on Monday described the surge in public companies holding Bitcoin (CRYPTO: BTC) as a “megatrend” that is set to accelerate, driven by concerns over dollar devaluation and growing investor confidence.
What Happened: Speaking on CNBC, Hougan highlighted that 79 public companies now hold $57 billion in Bitcoin, a 160% increase from last year.
Hougan attributed this trend to corporations seeking alternatives to cash and U.S. Treasuries amid record money printing and rising deficits.
“Corporations globally are sitting on records amount of cash… But with the huge money printing and growing deficits, that no longer seems like a valid approach,” he said.
Bitcoin, he noted, is seen as “the best horse in that race” for protecting wealth.
The …
About The Author
