Bitcoin Is Not ‘Structurally Flawed’—But Gold Is, Bitwise’s Matt Hougan Says
Posted On March 5, 2026
Bitwise Chief Investment Officer Matt Hougan challenged billionaire Chamath Palihapitiya‘s claim that Bitcoin (CRYPTO: BTC) is “structurally” flawed, pointing out that, in fact, that applies more to gold.
Bitcoin Or Gold: Which One Do Central Banks Prefer?
Palihapitiya had claimed Bitcoin is unsuitable for central bank reserves, arguing the real issue lies with gold’s physical nature.
Gold must either be stored with third-party custodians. Alternatively, it must be physically transported, which introduces security risks and logistical challenges.
Hougan pushed back, saying central banks don’t want to rely on such assets.
By contrast, Bitcoin can be digitally transferred globally, making …
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