Matt Hougan, chief investment officer (CIO) of Bitwise Asset Management, said in an interview with CNBC that the recent surge in the price of Bitcoin and other cryptocurrencies, coupled with the sharp rise in the price of gold, reflects the shift of investors to be inflation-sensitive and able to protect against economic risks. asset. In addition, the potential approval of a Bitcoin spot ETF in the United States is an important factor.
He also noted that professional and institutional investors are entering the cryptocurrency market, which has historically been dominated by retail traders. The involvement of major financial firms such as BlackRock is seen as a pivotal moment, expected to bring significant amounts of money into the cryptocurrency space for the first time.
Hougan is optimistic about the prospects of Bitcoin, predicting that the price of Bitcoin will reach a record high in the next 6 months to 1 year. He expects investors will continue to flock to the cryptocurrency market. (Cryptoglobe)