Bitwise CIO Matt Hougan calls the fiat monetary system "dead" as Bitcoin gains ground vs. gold

Bitwise Chief Investment Officer Matt Hougan said the traditional fiat monetary system is "dead", pointing to a shift in hedging behavior. A May 7 JPMorgan note said investors have been favoring Bitcoin over gold, with Bitcoin ETFs posting a third straight month of inflows as gold ETFs struggled after outflows that began in March.