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Bitwise\u2019s Matt Hougan said Strategy’s STRC offer of high yields and low volatility was always a questionable fit for buying Bitcoin, as the cryptocurrency offers neither. <\/p>\n
Strategy\u2019s era as the dominant Bitcoin buyer may have come to an end following last week\u2019s STRC turmoil, which cast doubt on the company\u2019s Bitcoin-buying strategy and sent the cryptocurrency to a nearly two-year low, according to Bitwise chief investment officer Matt Hougan.<\/p>\n
\u201cFor years, Strategy has been the most dominant Bitcoin buyer in the world and a one-way source of Bitcoin demand. Those days are likely over,\u201d Hougan said<\/a> Thursday. <\/p>\n \u201cI just expect it to be a less important figure in Bitcoin in the next cycle than it was in the last,\u201d Hougan said, adding that investment banks, asset managers, pensions, endowments and sovereign wealth funds will likely replace Strategy as Bitcoin\u2019s primary demand driver.<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n