U.S. Strategic Reserve & Bitcoin
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MAR
12
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The CFA Society Los Angeles FinTech Advisory Council presents a timely panel examining the evolving U.S. reserve-asset framework through the lens of Bitcoin. The discussion is grounded in recent developments in U.S. reserve strategy and features speakers with deep experience across capital markets, digital assets, and government.
Designed for professionals in wealth management, equities, fixed income, and asset allocation, this panel will explore emerging proposals aimed at addressing the U.S. debt burden (currently approximately $38 trillion, with nearly $14 trillion maturing over the next three years) and the potential role Bitcoin may play within that framework.
Key Discussion Topics
- The Reserve Shift: An overview of the March 2025 executive order establishing the Strategic Bitcoin Reserve (SBR), and how Bitcoin is increasingly being discussed alongside (or in certain contexts, in place of) gold as a strategic reserve asset.
- Flow Implications for Bitcoin and Gold: Analysis of how formal recognition of Bitcoin as a reserve asset could influence institutional behavior, ETF demand, sovereign allocation decisions, and relative price dynamics, potentially reallocating flows from gold or generating new sources of indirect demand for Bitcoin.
- Debt and Bond Innovation: A discussion of proposed hybrid instruments (“BitBonds”) that combine U.S. Treasuries with embedded Bitcoin exposure (e.g., a 10% BTC allocation) as a potential refinancing mechanism for U.S. debt, and how such structural innovation could shift Bitcoin’s narrative from speculative asset to strategic capital markets tool.
- Bitcoin Investment Vehicles: A review of the current landscape of regulated Bitcoin investment vehicles, including spot ETFs, futures-based products, digital asset trusts, and separately managed accounts, and how these structures are enabling institutional adoption while addressing custody, compliance, and fiduciary considerations.
MODERATOR
Leon Mirochnik | Leon Mirochnik, CFA is the CEO of Ocean Avenue Partners, where he focuses on supporting early- and growth-stage companies across asset management, digital assets, and insurance. He has developed extensive experience across cryptocurrencies, ETFs, venture capital, SPACs, and broader capital markets, with prior roles at Tagus Capital, BlackRock, EIP, and Aristotle Capital. Leon is a CFA charterholder and serves on the CFA Society Los Angeles FinTech Advisory Council and the Financial Literacy Commission. He is a proud husband, father of two, and an avid surfer. Back To Top ^^
SPEAKERS
Matt Hougan | Matt Hougan is the Chief Investment Officer of Bitwise Asset Management, a specialist crypto asset manager overseeing more than $15 billion across ETFs, index funds, SMAs, and active strategies. Prior to joining Bitwise in 2018, he served as CEO of ETF.com, where he built the industry’s leading ETF data, ratings, and classification system and launched the world’s largest ETF conference.
Hougan is a frequent commentator on CNBC, Bloomberg, and Fox Business, a Forbes columnist, and a three-time member of Barron’s ETF Roundtable. He is co-author of two CFA Institute Research Foundation publications: A Comprehensive Guide to Exchange-Traded Funds and Cryptoassets: The Guide to Bitcoin, Blockchain, and Cryptocurrency for Investment Professionals. He is also a co-founder of Future Proof, a board member of QuantumStreet AI, and a strategic advisor to Blockworks. Hougan holds a B.A. in Philosophy from Bowdoin College. Back To Top ^^
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Christian Lopez | Christian Lopez is Head of Digital Assets at Cohen & Company Capital Markets in New York. He has built deep expertise across fintech and financial services, advising on M&A, venture capital, capital markets, SPACs, and private placements. Prior to Cohen & Company, Christian was a Vice President at Broadhaven Capital Partners, a Senior Associate at Guggenheim Securities, and an Analyst at UBS, covering fintech, banks, insurance, and specialty finance. Christian holds an MBA from Columbia Business School and a B.S. from the University of Illinois Urbana–Champaign. Back To Top ^^
Patrick O'Kain | Patrick O’Kain is a General Partner at Borderless Capital with more than 18 years of experience spanning venture capital, national security, federal law enforcement, and professional services. He was a founding General Partner at Raptor Ventures and previously co-led KPMG’s Crypto Practice, advising institutional clients on digital assets, blockchain infrastructure, and regulatory strategy.
Earlier in his career, Patrick served within the U.S. Intelligence Community on counterterrorism and national security initiatives and later as a Special Agent with the U.S. Department of Justice, leading complex cryptocurrency and financial investigations. He holds an MBA from Columbia Business School. Back To Top ^^
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Registration Fees |
We accept the following:
If you prefer to pay by check please email info@cfala.org and request to pay by check. Your registration will be completed manually and you will receive an email confirmation.
Mail Check To:
CFA Society of Los Angeles
13400 Riverside Drive, Ste. 215
Sherman Oaks, CA 91423
*Credit card payments will only be accepted through the secure online registration, and not by phone or email.
Valet parking is $18.
Cancellations must be received in writing by 9:00 am the day prior to the event to receive a refund of the event ticket price. No phone cancellations are accepted. Please e-mail info@cfala.org.
AJ Mildenberg, CFA
Leon Mirochnik, CFA
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CFA Society Los Angeles has determined that this program qualifies for 1.5 PL credit hours, under the guidelines of the CFA Institute Professional Learning program. If you are a CFA Institute member and a CFA Society Los Angeles Member, PL credit for your participation in this program will be automatically recorded in your PL tracking tool. |
