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Bitwise CIO: Traditional Financial Professionals Fail to Understand the Advantages of Crypto Assets
Summary: According to The Block, Bitwise Chief Investment Officer Matt Hougan pointed out in a recent client update that traditional financial supporters fail to understand the advantages of Bitcoin, stablecoins, and the broader digital asset industry. He noted that the existing financial system suffers from inefficiency and high costs, with checking accounts offering only a 0.07% ...
According to The Block, Bitwise Chief Investment Officer Matt Hougan pointed out in a recent client update that traditional financial supporters fail to understand the advantages of Bitcoin, stablecoins, and the broader digital asset industry. He noted that the existing financial system suffers from inefficiency and high costs, with checking accounts offering only a 0.07% yield, savings accounts at 0.38%, and payment settlements taking days. Hougan believes that blockchain technology can enable instant payments, near-zero fees, and real-time earnings accumulation. He cited examples of African businesses using stablecoins to bypass inefficient banking systems and Stripe's acquisition of stablecoin company Bridge to illustrate the gradual application of crypto assets in areas where traditional systems are inefficient. He predicts that with improved regulatory environment and increased convenience of use, most financial activities will eventually shift towards crypto infrastructure.
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Link: Bitwise CIO: Traditional Financial Professionals Fail to Understand the Advantages of Crypto Assets [Copy]
