Bitcoin to attract $1 trillion from institutions amid ‘raging bull market’ — Bitwise exec

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Bitwise chief investment officer Matthew Hougan expects $1 trillion of inflows if global wealth managers allocate 1% of their portfolios into Bitcoin.

Bitwise’s chief investment officer Matthew Hougan said institutional investors would likely inject as much as $1 trillion into Bitcoin (In a memo sent to investment professionals, Hougan addressed concerns over Bitcoin’s price volatility. As the asset bounces between $60,000 and $70,000, the executive said the best approach would be to “keep calm and take the long view.

“But long-term, we believe Bitcoin is in a raging bull market. Not only is it up nearly 300% in the past 15 months, but there are strong reasons to think that will continue.”

 

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