The One Big Question For Bitcoin In the memo, Hougan highlights the striking nature of the US government’s decision, writing: "Fifteen years after Bitcoin was created—a decade and a half of ridicule and skepticism, of people calling it a pet rock’ and rat poison squared’—the US government declared Bitcoin a strategic’ asset that shall not be sold.’” He argues that Bitcoin’s endorsement as a strategic reserve asset signals a historic shift: "It is a historic milestone, which in time will help propel Bitcoin to new all-time highs.
Related Reading: Bitcoin Plays Chicken With Central Banks As Dollar Falls, Says Expert Moreover, the new executive order explicitly states: "[T]he Secretary of the Treasury and the Secretary of Commerce shall develop strategies for acquiring additional Government BTC provided that such strategies are budget neutral and do not impose incremental costs on United States taxpayers.” In his memo, Hougan underscores the significance of the word "shall,” suggesting it indicates a mandate rather than a mere possibility.
Above all, Bitwise’s memo insists on a long-term perspective, urging investors to concentrate on what Hougan terms "the only question that matters in Bitcoin.” That question is whether Bitcoin becomes globally important, akin to gold, or whether it remains peripheral.
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