Matt Hougan, chief investment officer of crypto fund Bitwise Asset Management, is optimistic about the digital asset market in the next few years.
Hougan said that every crypto cycle is driven by technological breakthroughs, and the upcoming cycle is no exception. “These cycles happen for a reason, and there’s a major technical breakthrough that’s fueling a new bull market… The reason I’m so excited is because I know what the technical breakthrough that’s going to drive the next bull market is. It’s Bigger technological breakthrough than NFTs, DeFi, and stablecoins. I think, in terms of real-world applications, even bigger than the first appearance of Bitcoin and Ethereum. This is scalability. This is The Layer 2 era… when you can efficiently use the blockchain for free, the things you can do are so interesting and exciting. It allows you to enter mainstream use in such a major way, and I think this is what cryptocurrencies really are A three-year cycle that penetrates the mainstream.”