Bitcoin Isn’t Special — Volatility Is Everywhere

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Matt Hougan, chief investment officer at Bitwise, has pushed back hard against the idea that Bitcoin should be excluded from investment products like 401(k)s because of volatility. He argues that price swings alone are a weak reason for bans, especially when traditional stocks experience similar—or even greater—movement.

Hougan pointed to Nvidia as a clear example, noting that the stock saw swings of over 120% in a single year, compared to Bitcoin’s roughly 65% range in the same period. Despite that, no one is calling for Nvidia to be barred from retirement accounts, highlighting what Hougan calls an inconsistent and outdated approach to crypto investing.

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banning btc for volatility while stocks like nvda swing harder feels kinda selective