Stablecoins to $3 Trillion: Bitwise CIO Predicts the Next Financial Revolution

Monday August 18, at 6 AM

In this episode of Capital & Power, Matt Hougan, CIO of Bitwise Asset Management, delivers a spirited defense of crypto’s transformative potential, arguing that “the financial system can be better… crypto is the only technology we have that offers us the opportunities to significantly upgrade the financial ecosystem.” Hougan outlines how stablecoins, now moving from an unregulated to a regulated framework under the Genius Act, could scale from $250 billion to $3 trillion by 2030, disrupting traditional banks and payment networks. He sees Ethereum as the likely “easiest choice” for institutional adoption, with infrastructure plays and early movers like Circle and Coinbase poised to thrive. While acknowledging risks—including regulatory missteps—he predicts Bitcoin will hit $200,000 this year, driven by institutional demand far outstripping supply. Ultimately, Hougan frames zero exposure to crypto as no longer neutral but “actively short against the benchmark” in a $3 trillion market.

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