Forward Guidance · Wednesday, September 2, 2026
Matt Hougan of Bitwise and Bob Heber of Preficio have partnered to launch a new ETF focused on hedging against currency debasement. Hougan described debasement as the degradation of the underlying unit of account, the dollar, which he believes is accelerating. Heber provided historical context, noting that the dollar has lost over 99% of its value since the creation of the Federal Reserve.
“You know, Bitwise is a global crypto asset manager. We manage a wide variety of ETFs. And because we were early in this space, we've been focused on sort of the concept of debasement and protecting yourself from, uh, debasement since our inception.”
“The degradation of the underlying unit of account, the value of the dollar.”
“And as Matt mentions, since that day, um, the value of the quote-unquote dollar is down 99 plus percent.”