Bitcoin 'May Be at a Turning Point,' Could Surge Into Year-End, Bitwise's Matt Hougan Says

Bitwise Chief Investment Officer Matt Hougan says Bitcoin’s (CRYPTO: BTC) resilience suggests that the market may be approaching an important turning point.

Tokenization Still Has Massive Room To Grow Speaking in a CNBC interview on July 16, Hougan pointed out that recent developments in tokenization, including same-day settlement through DTCC, mark an important milestone for blockchain adoption even if the impact on crypto prices is still in its early stages.

Hougan noted only about $300 billion of assets are currently on chain compared with roughly $600 trillion in global financial assets, suggesting blockchain adoption has significant room for expansion.

"If all capital markets come on chain, it will eventually impact these assets," he said.

He explained that while Bitcoin primarily serves as a form of digital gold, smart contract blockchains such as Ethereum (CRYPTO: ETH) and Solana (CRYPTO: SOL) could benefit directly from increased tokenization because network activity burns native tokens.