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Matt Hougan, chief investment officer at Bitwise, said Trump’s executive order to create a strategic reserve for Bitcoin in the US has removed the last existential risk to the asset, which now accounts for 1.3% of the global money supply.

Hogan believes now is the best time to buy Bitcoin. He explained how Bitcoin has overcome initial threats such as uncertain technology and legal concerns.

Trump ordered the allocation of about 103,500 Bitcoins from confiscated federal government assets to the strategic reserve. Hogan believes this action shows that the US has accepted Bitcoin as the best backup plan in case the dollar is threatened.

He added that Bitwise clients are increasing the proportion of Bitcoin in their investment portfolios from 1% to 3% and expects this figure to increase to 5% and beyond.