Matt Hougan, CIO of Bitwise, one of the world’s largest crypto fund managers, referred to the value of bitcoin as a hedge against the U.S. debt and the decline of the dollar. In social media, Hougan stated that bitcoin was an instrument that allowed investors to put funds in the market taking public debt into account. “Bitcoin is the ultimate insurance policy against our government royally messing up the US dollar, taking on too much debt, and debasing the currency,” he stressed. Furthermore, he called bitcoin “the fastest horse in the race,” elevating its unique traits over other hard money assets such as gold.

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