Bitwise CIO Matt Hougan argues Bitcoin will thrive across all economic scenarios

Bitwise CIO Matt Hougan argues Bitcoin (BTC) will benefit meaningfully across three macro scenarios: AI superabundance, AI market crash, and baseline growth. Institutional ETF demand, sovereign adoption, and Federal Reserve uncertainty support this view. For instance, US spot Bitcoin ETFs brought in a net $6 billion in Q3 2026, and September CPI rose 3.7% year-on-year, leading traders to place Fed rate hike odds for the October 28 meeting at approximately 30% according to the CME FedWatch Tool.