tl;dr

Bitwise CIO Matt Hougan believes there is a significant political shift regarding crypto in Washington, D.C. He emphasizes that the crypto industry has gained political influence, but this development is not widely recognized outside the industry. Hougan suggests that if people understood the implic...

Bitwise CIO Matt Hougan emphasizes the underestimated political shift on crypto in Washington, D.C. He notes the successful building of "political muscle" by crypto and the potential for significant market impact if the shift is truly understood.

Hougan anticipates a substantial flow of financial advisor-managed funds into digital assets post-resolution of political-industry tensions. He envisions Wall Street's acceptance of crypto as a catalyst for industry growth and potential movement towards all-time highs.

According to Hougan, the crypto industry has gained political influence, but this development is not widely recognized outside the industry. He suggests that if people understood the implications of this shift, crypto markets would already be at all-time highs. Once the tension between politicians and the industry eases, a substantial portion of managed financial assets could flow into digital assets.

Hougan envisions a scenario where widespread acceptance of crypto on Wall Street could propel the market to new all-time highs. He believes that a sizeable chunk of the $20 trillion currently managed by financial advisors will likely flow into digital assets once the tension between politicians and the industry wears off.

If all of Wall Street accepted crypto as a normal part of the market, Hougan speculates that it would positively impact the market, moving the industry towards all-time highs. However, he emphasizes that until this happens, there may still be some alpha opportunities in the crypto market.

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 9 Nov 24
 9 Nov 24
 8 Nov 24