According to Matt Hougan, chief investment officer at asset management firm Bitwise, any crypto market recovery will likely take longer than expected as Wall Street investors and advisory firms now focus on real-world applications, such as tokenization and artificial intelligence, rather than outright digital assets.
“We have lost investor attention to other hot trends,” including, for now, AI, Hougan said in an email interview. “I think the upcoming bull market will be slower and less volatile. [than] in the past.”
Even so, companies that advise high-net-worth individuals and institutional investors, known in the United States as registered investment advisors (RIAs), remain heavily engaged in bitcoin. the largest cryptocurrency by market capitalization and crypto as a whole.
“Interest is higher than ever,” said Hougan, himself a longtime Bitcoin buyer. “I think it’s a very optimistic long-term signal. … I think the amount will exceed $1 million in the next 10 years. I have less certainty about how, when and if the amount has bottomed out. I think we have to wait and see how the four-year cycle plays out.”
