The chief investment officer of crypto fund operator Bitwise said large investors now view Bitcoin (BTC) as a way to reduce the risk of economic headwinds.
In a new interview on the Cheddar YouTube channel, Matt Hogan said institutions are looking closely at Bitcoin amid concerns about persistent inflation and the U.S. government's rapid accumulation of debt.
“Since launching the Bitcoin ETF, we have met with financial advisors, family offices, and even endowments over the past few months, and what we have heard above all from these investors is , what they're really concerned about is the possibility of a resurgence of inflation. What they're really concerned about is rising debt levels, and what they're seeing is that Bitcoin could be a hedge against those risks in their portfolio…
The real concerns, and what people are focused on hedging with Bitcoin, are inflation and debt risks. ”
Hogan said people are starting to wake up to the fact that Bitcoin is one of the only assets not backed by debt.
“I think a lot of investors are starting to realize that they don't have any money other than debt. What is debt-free money? Is it Bitcoin or gold? I look at a lot of homes, and I think that's the dominant paradigm in the market right now.”
Hogan said both gold and Bitcoin allow investors to store funds outside of centralized institutions without relying on fiat currencies, but given that they are relatively new assets, cryptocurrencies are He points out that Wang has greater upside potential and risk.
“Gold is a very mature asset. Bitcoin is a new store of value. That means Bitcoin has more upside potential, but also more volatility, so it plays a slightly different role, but it is an investment. We offer the same general services for homes, and this is a way to get out of the fiat system and secure debt-free funds for your portfolio.”
As of this writing, Bitcoin is worth $65,095.
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