von • Bitwise CEO Matt Hougan believes a multi-year bull market is now kicking off, fueled by institutional interest in Bitcoin (BTC).
• He also forecasts a new growth chapter beyond just asset prices, predicting a big wave of new crypto companies entering the stock market.
• BlackRock’s recent foray into Bitcoin may be the cherry on top for new bull market conditions.
Bitwise CEO Calls for Multi-Year Bull Market
The CEO of Bitwise, the world’s largest crypto index fund manager, Matt Hougan, believes that a multi-year bull market is now kicking off due to increasing institutional interest in Bitcoin (BTC).
Institutional Investors Eyeing Up Bitcoin
Hougan claims that crypto prices have shown incredible resilience despite regulatory scrutiny and BlackRock’s recent foray into Bitcoin may be the final piece to complete this new bull market environment.
Crypto Equities Blossoming
Hougan further forecasts a new growth chapter beyond just asset prices and predicts a big wave of new crypto companies entering the stock market. He calls this era ‘the mainstream era of crypto’ and expects to see an increase in Initial Public Offerings (IPOs) as well as an outperformance of crypto equities compared to other assets.
Rising Wall Of Worry
In addition, he mentioned that since November 2020 after FTX debacle, prices have been rising amidst worries and skepticism from the public. With BlackRock putting its flag in the ground confirming its investment decision, this could be seen as another positive indication that institutional investors are looking towards cryptocurrency with optimism.
Conclusion
In conclusion, Hougan is optimistic about this current moment where cryptocurrency stands at the threshold between traditional legacy financial systems and digital asset markets as it enters into ‘the mainstream era of crypto’ with a multi-year bull market ready to take off.
