Bitcoin is increasingly being seen as a way for large investors to protect themselves against economic uncertainties, according to Bitwise’s chief investment officer. In an interview, Matt Hougan revealed that institutional investors are turning to Bitcoin due to concerns about inflation and the rapid accumulation of debt by the US government. He noted that investors are realizing that Bitcoin, along with gold, is one of the only assets not backed by debt. While gold is considered a mature asset, Bitcoin is seen as an emerging store of value with greater upside potential and volatility. Both assets provide investors with a way to diversify outside of the fiat currency system. At the time of writing, Bitcoin is valued at $65,095.
