Bitwise CIO: The decline in Bitcoin is a short-term setback, the market will soon find its own footing

Odaily Planet Daily reports that Bitwise Asset Management's Chief Investment Officer, Matt Hougan, stated on CNBC's Squawk Box Asia program that the current drop in Bitcoin prices is a "short-term setback". The market will soon find its footing and realize that this is actually a long-term bullish view of this asset and the entire cryptocurrency market.

Matt Hougan added that David Sacks, the White House Director for Cryptocurrency and AI, has already indicated that the United States will seek a "budget-neutral strategy to acquire more Bitcoins", provided these strategies do not bring incremental costs to American taxpayers. The correct question should be: Will this executive order make it more likely for Bitcoin to become an important currency or asset geopolitically in the future? Will other governments follow suit with America and establish their own strategic reserves? For me, the answer is yes. This question matters because it determines whether Bitcoin is worth $80k each or $1 million each.