Bitwise CIO says Strategy's influence to wane, institutions to lead BTC buys

Bitwise Chief Investment Officer (CIO) Matt Hougan has predicted that in the next Bitcoin (BTC) market cycle, the influence of Strategy (MSTR) will diminish as institutional investors emerge as the key buyers. Hougan explained that due to a change in its operating model, Strategy can now sell BTC if necessary to fund dividend payments. While he does not expect a large-scale sell-off, he noted that the company has shifted to a framework where it can both buy and sell depending on market conditions. Hougan added that if the price of BTC rebounds, the company's net buying trend will likely continue, but it will be difficult for it to exert the same market influence as in past cycles.