Bitwise CIO: Altcoins may bring considerable returns in the long run

Odaily News Matt Hougan, chief investment officer at Bitwise, said in a report to clients that there is currently an interesting dichotomy between institutional and retail investors in the cryptocurrency space: on the one hand, institutional investor sentiment towards cryptocurrencies is the most optimistic in history, while retail investors are falling into despair. Investment professionals now see cryptocurrencies as an area where institutional capital is being allocated in record amounts through ETFs; however, for retail investors, it is almost like living in an alternate reality, with Bitwise's own on-chain sentiment score currently showing one of the lowest readings ever.
Matt Hougan said he firmly believes that institutions are right. So far this year, ETFs and companies have purchased more than 100,000 BTC, while the number of mined BTC is 18,000. And in the long run, the configuration of altcoins is stronger than at any time in history, but the situation of altcoins is more complicated. With the clarity of the regulatory agenda, the United States regards stablecoins as a "national priority" and the growing confidence of institutions, the crypto industry is bound to push DeFi applications to the masses, and its impact will be self-evident and unstoppable. (TheBlock)