Bitcoin’s Value Comes From Its Utility, Not Short-Term Price Drops: Bitwise CIO

Bitwise Chief Investment Officer Matt Hougan is urging investors to look past Bitcoin’s sharp pullback, arguing that the cryptocurrency’s long-term value has little to do with its recent slide and everything to do with the service it provides. Key Takeaways: Bitwise CIO Matt Hougan says Bitcoin’s recent drop is “short-term noise” and doesn’t affect its long-term value. Hougan argues Bitcoin should be viewed as a digital wealth-storage service, not a traditional asset. He cites rising global debt and ...