Here Are The Sensational Predictions For Bitcoin And Altcoins From The Famous Manager
Chief investment officer of Bitwise Asset Management, one of the world’s largest crypto asset managers, officially acknowledges that big players will enter the Bitcoin and cryptocurrency market. Bitwise CIO Matt Hougan says it will almost snowball.
Matt Hougan: Bitcoin and altcoins are the perfect market for investment!
In his new interview, Bitwise Asset Management’s Matt Hougan points out that there has been a great maturity with hedge funds and financial advisors showing serious interest in the crypto markets. Matt Hougan said on the subject:
YOU JUST SEE A TREMENDOUS MATURATION IN THE CRYPTO MARKET. IT IS NOW ACCEPTABLE FOR INSTITUTIONAL AND PROFESSIONAL INVESTORS TO ALLOCATE THEIR FUNDS. AND THIS TREND IS DRIVEN BY IMPROVEMENTS IN CUSTODY SOLUTIONS, IMPROVEMENTS IN TRADE, MASSIVE IMPROVEMENTS IN REGULATION, AND THEN SOME EVIDENCE OF CONCEPT DEVELOPMENT AS WE’VE SEEN IN THE DEFI (DECENTRALIZED FINANCE) MARKET. THAT’S WHY BITCOIN AND ALTCOINS ARE THE PERFECT MARKET FOR INVESTMENT! YOU HAVE A FEW GREAT CATALYSTS FOR THIS AND I THINK WE ARE IN THE FIRST PHASE OF THIS THING. I THINK IT WILL SNOWBALL FROM HERE.
Bitwise manager: A lot has changed in the market in 3 years!
Matt Hougan also highlights that the Bitwise customer base has undergone a significant transformation in three years. Matt Hougan said on the subject:
IT WAS HUGE… THE CLIENT BASE WE LAUNCHED IN 2017 WAS PRIMARILY HIGH NET WORTH AND ULTRA HIGH NET WORTH INDIVIDUALS LOOKING FOR AN EASY WAY TO INVEST IN THE WHOLE OR AT LEAST THE MAJORITY OF THE CRYPTO ASSET MARKET… THAT REALLY CHANGED. THESE PEOPLE ARE STILL ALLOCATING FUNDS TO BITWISE, BUT THE DRIVING FORCE OF ENTRIES THAT LED TO THE $ 100 MILLION BRAND, HEDGE FUNDS, FINANCIAL ADVISORS AND ESPECIALLY FINANCIAL ADVISORS COULD NOT REALLY ALLOCATE FUNDS TO THE MARKET TWO YEARS AGO. TWO YEARS AGO THERE WERE NO REGULATED AND INSURED CUSTODIANS ON THE MARKET.
Matt Hougan: Wall Street recognizes the potential size of this market
The Bitwise CIO highlights that mainstream analysts are now clearly making a big bullish forecast for Bitcoin. Matt Hougan said on the subject:
JUST A FEW MONTHS AGO, BLOOMBERG’S SENIOR COMMODITY STRATEGIST CAME OUT AND SAID THAT BITCOIN COULD TRADE UP TO $ 100,000. AND NOW JP MORGAN SAYS THAT BTC COULD EASILY BE 2X OR 3X, OR EVEN 10X, IF MILLENNIALS LEFT OUT GOLD . THESE WERE THE PRICE TARGETS PEOPLE ANNOUNCED, PERHAPS IN 2017, AND RIDICULED BY TRADITIONAL WALL STREET INVESTORS. NOW WALL STREET ACKNOWLEDGES THE POTENTIAL SIZE OF THIS MARKET…
Master name: PayPal can drag big financial institutions after it!
As for the latest news that PayPal allows its users to buy and sell cryptocurrencies, Matt Huogan believes massive individual use won’t happen overnight. However, according to Matt Huogan, PayPal’s venture into the cryptocurrency industry could drive the majority of major financial institutions into the market. Matt Hougan said on the subject:
YOU WILL FIND THAT ALL OTHER GREAT INSTITUTIONS ARE DOING THE SAME. THEY HAVE TO NOW. IT’S KIND OF LIKE A TABLE STICKS…