Cryptocurrency Targets Massive Market Potential, Says Bitwise CIO

According to PANews, Bitwise Chief Investment Officer Matt Hougan recently highlighted the vast market potential for cryptocurrencies. Hougan noted that Bitcoin is often compared to gold, with a market capitalization of approximately $2.3 trillion, while gold's market is valued at around $25 trillion. He suggested that Bitcoin could achieve a similar scale by capturing just 10% of the gold market. Hougan also discussed the competition among Ethereum and Solana in the issuance, trading, and settlement of stablecoins and asset tokenization. He cited estimates from SIFMA and Savills, which value the combined markets of stocks, bonds, and real estate at $665 trillion. Additionally, McKinsey reports that global payments process about 3.4 trillion transactions annually, totaling approximately $1.8 quadrillion. Furthermore, Hougan mentioned that Tether is rumored to have a valuation of $500 billion, largely due to its significant share in the stablecoin market in non-Western countries.