Bitwise CIO Says Bitcoin Showed Strong Growth This Year Despite Price Weakness
JH Kim
Summary
- Matt Hougan, Bitwise's CIO, said Bitcoin showed solid growth this year despite price-related headwinds.
- He said Bitcoin delivered strong performance this year, citing institutional investor inflows and broader access through the wealth-management market.
- He said Bitcoin's market foundation has strengthened independently of price action as demand rises for assets outside fiat currencies.
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Matt Hougan, chief investment officer at Bitwise, said Bitcoin has shown solid growth this year despite weakness in its price.
Cointelegraph reported on October 28 that Hougan viewed Bitcoin as having delivered strong performance this year, citing continued institutional inflows and broader access through the wealth-management market.
He said institutional money continues to flow into Bitcoin, while investment access through wealth-management services has expanded.
Hougan also pointed to rising demand for assets outside fiat currencies as a positive development for Bitcoin. Based on those factors, he said Bitcoin's market foundation has strengthened regardless of price moves.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.