Updated: 8 months
• Bitwise CEO Matt Hougan predicts a multi-year bull market for Bitcoin (BTC) fueled by institutional investors.
• Blackrock’s investment in BTC is seen as the catalyst to this new wave of crypto prices
• Crypto equities are expected to outperform crypto asset prices leading to an increase of IPO’s and growth in the industry
Bitwise CEO Predicts Multi-Year Bull Market For Bitcoin
The CEO of Bitwise, Matt Hougan, has recently expressed his opinion on the current state of the cryptocurrency market. He believes that a multi-year bull market is now kicking off due to a long awaited influx of institutional investors, with BlackRock’s recent foray into Bitcoin (BTC) being just one example of this. He believes that these increased regulatory scrutiny has led to an incredible resilience in crypto prices which will lead to further growth and expansion in the industry.
Crypto Assets Showing Resilience To Regulatory Scrutiny
Hougan claims that crypto prices have been rising since late last year despite increasing regulatory scrutiny. With large asset managers such as BlackRock investing in BTC, Hougan sees this as indicative of a new mainstream era for cryptocurrency and a strong sign that a multi-year bull market is upon us. He also believes that we are going to see more Initial Public Offerings (IPOs) from companies within the space who can capitalize on the growing popularity of digital assets.
Expectations Of Crypto Equities Outperforming Assets
Not only does Hougan expect crypto assets such as Bitcoin to show strong performance over time but he also predicts that crypto equities will outperform them too. His index for tracking these equities has already seen gains of over 100% since this year began and he expects there will be many more opportunities for companies within the space as interest increases further down the line.
Institutional Investors Could Be Key To Growth
Hougan states that it is possible we are entering into ‘the mainstream era’ with regards to cryptocurrency due to larger companies investing significantly into digital assets like Bitcoin alongside smaller firms getting involved too. This could be key for driving future growth across all aspects of cryptocurrency including not just asset prices but other areas such as financial services too.
It appears clear from Matt Hougans comments that he believes we are currently at a pivotal point when it comes to cryptocurrencies with huge potential lying ahead if institutional investors continue their involvement in digital assets like Bitcoin and other altcoins. It remains yet to be seen if his predictions come true or not but his optimism certainly seems reassuring for those looking towards a bright future ahead for cryptocurrency markets worldwide.