By coinnews 
00:00 Speaker A
It’s time now for today’s strategy session. The crypto rally sending Bitcoin to fresh record highs. But can the momentum continue joining us now? We’ve got Matt Hogan, who is the Bitwise CIO. Matt, great to speak with you once again here. Just take us into what’s really prompted this most recent thrust that we’ve seen within Bitcoin, the leading cryptocurrency right now by market cap.
00:24 Matt Hogan
Yeah, absolutely. It’s great to be here. We have two forces working together to push Bitcoin to new all-time highs, and I do think that rally will continue. One is that institutions are moving into the crypto space. We’ve seen over $8 billion in inflows into Bitcoin ETFs in the last 30 days. That’s new demand against fixed supply and that pushes prices up. But at the same time, we’re getting a lot of unintentional support from Washington. I think the market today is reacting to the fact that the government has sort of said it’s on board to grow deficits, to print more money, to expand the fiscal debt. And that’s forcing people to look outside of fiat currencies to an alternative. Bitcoin is that alternative. I think this is the start of a major move. I think we’re going to significantly exceed the previous all-time highs, and we’re on route for another great year in Bitcoin.
01:28 Speaker B
Hey, Matt, it’s Julie here. This has long been sort of one of the arguing points for, for Bitcoin, right? In terms of what you were just talking about. But the folks we’re talking to don’t think that the movement we’re seeing in treasuries, for example, or the concern about deficits is going to be terribly sustained. It hasn’t been sustained in the past. So what gives you the optimism that that flow is going to be sustained into Bitcoin this time around, if that is indeed one of the reasons why?
02:15 Matt Hogan
Yeah, look, I think something may have started to break with investors’ long-term appetite for debt, right? We have the 30-year over 5%. We see what’s going on in Japan. I think people are starting to realize that the US government has given up on the idea of substantial cuts. Deficits are going to continue ad infinitum, and that means the long-term value of the dollar is in question over time. People want alternatives. I think that’s adding significant flows. Even independent of that though, you have this structural mismatch between new demand and supply with institutions coming in. So that’s sort of like the cherry on top that’s forcing us up today.