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Bitwise CIO says corporate Bitcoin buying is set to explode

Bitwise Chief Investment Officer, Matt Hougan, believes that hundreds of companies will begin buying Bitcoin for their treasuries in the next year to year and a half. He predicts that this trend could significantly boost the entire Bitcoin market. Hougan points out that MicroStrategy's aggressive Bitcoin acquisition strategy has been overlooked by many investors, but they are not the only company driving this trend. Seventy public firms, including Tesla, Block, and Coinbase, already hold a collective 141,302 BTC, and private entities like SpaceX and Block.one own an additional 368,043 BTC. The trend is being driven by reduced reputational risks and new accounting standards that make Bitcoin more appealing to corporate treasuries. Hougan believes that as more firms embrace Bitcoin, adoption will snowball.

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