Bitwise CIO says market is ‘not bullish enough’ amid rising political endorsements
Summary
Bitwise CIO Matt Hougan believes the market underestimates Bitcoin's potential after the Bitcoin2024 conference. The event saw significant political endorsements for Bitcoin, including plans for a national bitcoin stockpile and support from prominent politicians. Hougan suggests that the growing popularity of crypto among Americans has led to political endorsements, prompting him to rethink what's possible for Bitcoin. He believes scenarios like G20 countries adding Bitcoin to their balance sheets and comprehensive crypto legislation are now more plausible. This shift in perspective means it's time to reassess Bitcoin's upside potential.
