Bitwise CIO: Despite continuous public support for Bitcoin from political figures, the market's optimistic sentiment towards Bitcoin is still insufficient

Bitwise Chief Information Officer Matt Hougan believes that the market is "not optimistic enough" about Bitcoin. After the Bitcoin 2024 conference, investors need to rethink the potential upside of this mainstream cryptocurrency. Hougan thinks that political support may be due to cryptocurrencies becoming increasingly popular among Americans. The strong lobbying influence of the industry in Washington has prompted many politicians to openly support Bitcoin, even if their support is more for attracting its growing popularity rather than a true belief in its value. This shift in perspective and the increasing prevalence of Bitcoin have made Hougan "rethink what is possible". Hougan pointed out that these ideas, once considered far-fetched, are becoming increasingly likely: G20 countries adding Bitcoin to their balance sheets ahead of America; comprehensive crypto legislation swiftly passing due to bipartisan support; and Wall Street widely accepting crypto.