Bitcoin’s Value Lies in Its Unique Service Offering

Despite recent fluctuations in Bitcoin’s price, Matt Hougan, Bitwise Investment Director, highlights the continued strength of institutional demand for the cryptocurrency. He believes the true value of Bitcoin stems from its unique service: providing secure digital wealth storage independent of governments or banks. While Bitcoin’s price has seen a significant dip following its peak at $126,000 on October 6th and fell below $90,000, Hougan sees this as a short-term correction.