Bitwise Asset Management CIO Matt Hougan discusses the U.S. recognizing bitcoin as a competitor to the dollar, arguing the government will have to “play along” with the digital currency, “whether they like it or not” during an appearance on “Mornings with Maria” Tuesday.¬†

MATT HOUGAN:¬†Long term look short term. The role, as I mentioned, is Bitcoin as digital gold. And just like the government hasn’t touched the gold market for 80 years or so from banning of ownership, I don’t think they’re going to do anything in Bitcoin. Long term, I think the world is going to want an apolitical currency rail.

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People are going to want it to be a political tool for international trade. I think Bitcoin could fill that role, so whether the government likes it or not in the US. I don’t think they’re going to have the ability to stop it just because China banned it.

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I think Bitcoin has escape velocity. I think it’s beyond the ability of the US government to clamp down. Whether they like it or not, I think they’re going to have to play along with it. And my hope is that the U.S. recognizes that this is a massive tool of economic growth and actually gets on the right side of history, supports the efficiency and the new opportunities that Bitcoin and crypto opens up. So that’s what I hope to see happen in a year or two ahead.

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