According to Matt Hougan on Twitter, his latest Bitwise CIO Memo provides a macro analysis on the nature of fiat currency and its contrast with cryptocurrencies like BTC and ETH. Hougan emphasizes that understanding the limitations and risks of fiat money is critical for traders, as it highlights the unique value propositions of digital assets. The memo points out that fiat currencies are subject to inflation and central bank control, which can impact trading strategies and risk management. For crypto traders, Hougan's analysis suggests increasing long-term positioning in decentralized assets as a hedge against fiat debasement, supported by historical data and macroeconomic trends. Source: experts.bitwiseinvestments.com/cio-memos/this.