According to Foresight News, Bitwise Chief Investment Officer Matt Hougan recently tweeted about his review of a U.S. executive order concerning the establishment of Bitcoin and cryptocurrency reserves. Hougan noted that the order emphasizes mandatory measures for the government to purchase Bitcoin. It specifically instructs the Treasury Secretary and the Commerce Secretary to develop strategies for increasing government Bitcoin reserves. These strategies must be budget-neutral and should not impose additional burdens on U.S. taxpayers. Hougan expressed his belief that the effectiveness of the executive order is underestimated by many.

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