Matt Hougan, CIO Bitwise: It's Time To Consider Bitcoin As A Long-Term Asset

JAKARTA - In an atmosphere of uncertainty that hit the global market, Bitcoin is again showing its strength as a digital asset that should be taken into account. Matt Hougan, Bitwise's Chief Investment Officer (CIO), underlined this through social media platform X earlier this week.

Hougan reminded us of the moment of the market crisis on March 12, 2020, when the Covid-19 pandemic began to spread and sparked global panic. On that day, the price of Bitcoin fell sharply by 37%, from 7,911 US Dollars (around Rp128 million) to 4,971 US Dollars (around Rp80 million). However, in just one year, the price of this digital asset jumped to 57,332 US Dollars (around Rp927 million). Hougan stressed that in a panic situation, investors tend to sell liquid assets. However, this kind of event actually confirmed a long-term narrative for Bitcoin.

According to Hougan, although Bitcoin is often experiencing significant price fluctuations, it remains optimistic about the future of this digital asset. Its confidence is further strengthened after attending the 2024 Bitcoin Conference in Nashville, Tennessee. There, Hougan highlighted the growing political support for Bitcoin. An example is Donald Trump's proposal to create Bitcoin's national reserves and various legislative initiatives under discussion. This political support, according to Hougan, could be a significant indicator of market change and could potentially provide huge profits to Bitcoin investors.

Quoted from Bitcoin.com News, Hougan said, "From the 2024 Bitcoin Conference, one thing is clear: It's time for us to reconsider what might happen with Bitcoin."

In the midst of market turmoil, the optimistic outlook of an experienced executive such as Hougan provides hope for crypto investors. With the growing political support and the continued testability of Bitcoin, the future of this digital asset looks bright, although challenges still lurk.