According to Odaily Planet Daily, Bitwise Chief Investment Officer Matt Hougan wrote on the X platform that the market underestimates the following things:

1) The possibility of sovereign states purchasing Bitcoin on a large scale in the next few years

2) The likelihood of the U.S. passing the Clarity Act in late 2025/early 2026;

3) The growth rate of tokenization and stablecoins;

4) In fact, by 2026, “downtrading” will become more popular, not less.