Matt Hougan said that the rise in gold is driven by the demand for self custody at the sovereign level

Bitwise Chief Investment Officer Matt Hougan said that the surge in gold prices is not only due to market concerns about debt and currency depreciation, but also driven by the increasing demand for "self managed wealth" at the sovereign level of various countries. He pointed out that this factor is severely undervalued in the market, but it has now become an important driving factor for gold buying.