BTC Is Worth $2 Trillion Because ‘Bitcoin Is A Service,’ Says Bitwise’s Matt Hougan
Posted On November 19, 2025
Bitwise Chief Investment Officer Matt Hougan argues that Bitcoin’s (CRYPTO: BTC) value stems from the service it provides, secure, decentralized digital wealth storage, rather than profits or physical utility.
What Happened: in his latest CIO memo, Hougan explained that Bitcoin lets users store wealth digitally without depending on governments, banks, or intermediaries.
Just as Microsoft is valued based on demand for its software, Bitcoin’s value scales with demand for its service: non-intermediated, …
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