Bitwise CIO: "Bitcoin Strategic Reserve Executive Order Will Have Positive Long-term Impact"
Summary
- Matt Hougan, Bitwise CIO, stated that President Trump's Bitcoin strategic reserve executive order will have a positive impact in the long term.
- The executive order signed by President Trump will utilize existing confiscated quantities rather than additional purchases, according to reports.
- As a result, reflecting investors' disappointment, Bitcoin prices plunged 4% over the course of an hour.
Amid U.S. President Donald Trump's executive order on Bitcoin strategic reserves, analysis suggests this will have a positive impact on the market.
On the 7th (local time), Matt Hougan, Chief Investment Officer (CIO) of Bitwise, said via X, "I'm not sure how the market will react in the short term to Donald Trump's Bitcoin strategic reserve executive order, but I'm confident it will be very positive in the long term."
Previously, Trump signed an executive order for Bitcoin strategic reserves, and it was reported that this reserve would utilize existing confiscated quantities rather than additional government purchases. As a result, reflecting investors' disappointment, Bitcoin plunged 4% in one hour and is currently trading at $86,061.27 according to CoinMarketCap.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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