TechFlow news — Wu Jihan posted on X stating that Matrixport's analysts are independent and can express their opinions without any influence or interference from management. Analysts are hired for their exceptional analytical abilities, compared to himself and other members of the management team. However, Wu Jihan personally, like other investors, simply skimmed the headline of the report (which claimed that Bitcoin spot ETFs would not be approved, authored by Markus).
Wu noted that Markus is a talented analyst. In early 2023, Matrixport was one of the few firms that accurately predicted Bitcoin’s bottom and maintained an extremely bullish stance. This latest report was intended solely for Matrixport's clients, and its widespread circulation in the media was neither part of Matrixport’s original plan nor within its control. To his knowledge, Matrixport has consistently advised its clients to be mindful of risks and leverage, especially considering market volatility driven by expectations around ETF approvals.
In reviewing Bitcoin’s history and future outlook, current volatility and uncertainty surrounding the potential January 2024 approval of a Bitcoin ETF ultimately do not matter. In the long run, Bitcoin will remain dominant. In his personal view, the approval of a spot ETF by the SEC is inevitable, which will attract new investment flows into Bitcoin. Bitcoin is poised to solidify its status as a store of value and hedge against risk, similar to gold.
