Inside Bitwise’s Avalanche ETP and Institutional Strategy with Matt Hougan
Speakers
Matt Hougan
— CIO, Bitwise Asset Management
Summary
Matt Hougan, CIO of Bitwise, discusses the launch of the Avalanche ETP, highlighting its staking yield and exposure to Avalanche's role in tokenized real-world assets. He presents a bullish thesis on Bitcoin, predicting it could reach over $1 million by 2035 due to store of value adoption and geopolitical factors. Additionally, he emphasizes the massive growth potential in RWAs and the emerging intersection of AI with crypto.
- Bitwise's Avalanche ETP offers staking yield and exposure to Avalanche's ecosystem.
- Bitcoin is projected to hit $1 million or more by 2035, driven by store of value and currency use.
- Tokenized real-world assets could grow from $30 billion to $300 trillion, benefiting L1s like Ethereum, Solana, and Avalanche.
- Institutional capital is expected to flow into crypto, with impacts felt in the second half of 2024.
- AI agents are anticipated to increase blockchain transaction volumes significantly.
- Avalanche's customizable L1s provide a unique approach for institutional RWA adoption.
- Matt Hougan's personal investment strategy involves holding crypto assets in a market-cap weighted manner.
- The 24/7 nature of crypto markets is becoming essential for global macro hedging.
Trade Ideas
RWA growth to benefit key L1 blockchains.
The tokenized real-world asset market is early and poised to grow from $30 billion to $300 trillion, and investors should gain exposure to leading Layer 1 blockchains like Ethereum, Solana, and Avalanche that have real-world traction and differentiated approaches in this space.
Bitcoin to reach $1M+ by 2035.
Bitcoin is expected to reach $1 million or $1.3 million by 2035 due to growth in the store of value market and increasing market share, with additional upside from potential use as an international currency driven by geopolitical conflicts raising its volatility and probability.
