Trump’s planned crypto reserve will eventually consist almost entirely of Bitcoin, despite including large-market cap altcoins, according to Bitwise CIO Matt Hougan. Market participants initially reacted negatively due to the inclusion of smaller-cap assets.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Planned crypto reservable eventually consists mostly entirely of Bitcoin,
00:06despite including a large market cap, all coins, according to Bitwise CIO Matt Hogan.
00:11Market participants initially reacted negatively due to the inclusion of small cap assets.
00:17Bitcoin initially surged on the news and dropped below $83,000 before recovering
00:22above $90,000. Hogan expects the US to hold any acquired crypto in the long term.
00:27For all things money, visit Benzinga.com.