Bitwise Chief Investment Officer Matt Hougan on Wednesday wrote that Treasury Secretary Scott Bessent may have inadvertently harnessed the government's full power in a way that strengthens two of the biggest arguments for Bitcoin (CRYPTO: BTC) What Did Treasury's Intervention Trigger? In his weekly CIO memo, Hougan argued that Bessent's actions in the Treasury market and the administration's use of the dollar-based financial system against Iran created a “powerful setup” for Bitcoin.