US President Donald Trump's proposed crypto strategic reserve, which includes Bitcoin, Ethereum, XRP, Solana, and Cardano, is viewed as bullish for the market by Bitwise's CIO, Matt Hougan.
Hougan believes that the market is not reflecting the positive impact of the reserve due to it holding more than just Bitcoin.
He points out that the initial proposal may not be the final one, and the reserve is likely to be predominantly Bitcoin in the end.
Hougan also suggests that other countries may follow the US in buying crypto, and once purchased, the crypto is unlikely to be sold for a long time.