‘Opportunity Has Never Been Greater in Crypto’: Bitwise CIO Says Market Vastly Undervaluing Change i

Bitwise chief investment officer (CIO) Matt Hougan says the crypto markets are undervaluing the US government’s policy shift on digital assets.

In a new interview with Natalie Brunell, Hougan says that the buying opportunity in crypto is now one of the best ever as the regulatory landscape has dramatically shifted under US President Donald Trump.

“I think the market is underpricing the change in Washington. That’s actually surprised me. I know that Bitcoin ripped from $70,000 to $100,000, but I think the change is much greater than that. I look at what’s happening, not just in Bitcoin, but in DeFi (decentralized finance), even in alt layer-1s, and I think the market is just underestimating the change. The reason for that is, I think, unless you worked in crypto over the last four years, you can’t imagine how challenging it was…

You look at what’s happened at the SEC (U.S. Securities and Exchange Commission) recently, pulling back on the Coinbase lawsuit, pulling back on the Uniswap lawsuit, I think just the rebound for that is 2x to 3x more than what we’ve seen in the market so far. So I guess I’ve been surprised that people haven’t sort of felt and intuited that difference, but now I recognize it’s because they didn’t know how bad we had it, and so therefore how open the market is now.”

Hougan says the crypto markets are exhibiting strong fundamentals and he predicts companies and sovereign wealth funds will increasingly buy Bitcoin (BTC).

“I think it’s a great long-term buying opportunity. I saw a tweet yesterday from Avichal [Garg] from Electric Capital that said, ‘Opportunity is fundamentals, minus perception,’ and the opportunity has never been greater in crypto if you use that math…

Every time you see another company say it’s putting Bitcoin on its balance sheet that’s going to be another sort of pebble in the pond that lifts the tide. So there’s going to be a lot of this sort of slow turn. I think if we do see more sovereigns come out, I think maybe that could be the spark or catalyst, but I think it’s more of a slow bull market.”

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