Bitwise CIO: The market is "not optimistic enough" about Bitcoin, and investors need to rethink the potential upside of mainstream cryptocurrencies

August 1st news, Bitwise CIO Matt Hougan believes that the market is "not optimistic enough" about Bitcoin, and after the Bitcoin 2024 conference, investors need to rethink the potential upside of the mainstream cryptocurrency. Hougan believes that political support may be due to the growing popularity of cryptocurrencies among Americans. The industry's strong lobbying influence in Washington has prompted many politicians to publicly support Bitcoin, even if their support is more about attracting its growing popularity than a true belief in its value. This shift in perspective and the growing popularity of Bitcoin has caused Hougan to "rethink what is possible". Hougan pointed out that these ideas, which were once considered far-fetched, are becoming increasingly likely: G20 countries adding bitcoin to their balance sheets to preempt the United States, comprehensive crypto legislation quickly passing due to bipartisan support, and Wall Street accepting crypto on a large scale.