Bitwise’s Journey: Insights from Hunter Horsley on David Sacks’ Stake Sale and Optimism for Cryptocurrency’s Future

In a recent statement, Hunter Horsley, CEO of Bitwise, shared crucial updates regarding the company’s investment landscape. Notably, renowned AI and cryptocurrency strategist David Sacks, alongside Craft, participated in Bitwise’s initial funding round back in 2017. However, two months prior, Sacks communicated a decision to divest from Bitwise, emphasizing the need to prioritize public service during his tenure at the White House.

Despite their desire to remain invested, Sacks and Craft’s team concluded a coordinated sale of Sacks’ 10% equity in Bitwise. This move signals a shift, albeit a difficult one, for the early supporters who believed in the company’s mission. Horsley expressed enthusiasm about the leadership of Sacks, citing his extensive knowledge and commitment to advancing the cryptocurrency sector in the United States, suggesting a bright future amid ongoing regulatory discussions.