Crypto expert says US government will have to ‘play the game’ with Bitcoin

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Bitwise Asset Management CIO Matt Hougan says “the world will want an apolitical tool for international trade.”

Bitwise Asset Management CIO Matt Hougan explains that the United States recognizes bitcoin as a competitor to the dollar, saying the government will have to “play the game” with digital currency “whether it likes it or not.” during an appearance on “Mornings with Maria” Tuesday.

MATT HOUGAN: Long term, look at the short term. The role, as I mentioned, is Bitcoin as digital gold. And just as the government hasn’t touched the gold market for about 80 years after banning ownership, I don’t think it will do anything in Bitcoin. In the long run, I think the world is going to want 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 fulfill that role, so whether the government wants it or not in the United States. I don’t think they will have the capacity to stop it just because China has banned it.

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I think Bitcoin has an escape speed. I think it’s beyond the ability of the US government to suppress. Whether they like it or not, I think they’re going to have to play with it. And I hope the United States recognizes that this is a massive tool for economic growth and is on the right side of history, supporting the efficiency and new opportunities that Bitcoin and the crypto open. So that’s what I hope to see happen in a year or two.

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