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Bitwise CIO: Bitcoin Competing for Market Share with Gold, Crypto Market Size Underestimated by Critics
Summary: Bitwise CIO Matt Hougan stated on social media that many crypto skeptics commonly make the mistake of underestimating the market size that cryptocurrencies are aiming to enter. Bitcoin is already a $2.3 trillion asset, a rarity in the world. Bitcoin is targeting a huge market, with the market value of gold at $25 trillion, and ...
Bitwise CIO Matt Hougan stated on social media that many crypto skeptics commonly make the mistake of underestimating the market size that cryptocurrencies are aiming to enter. Bitcoin is already a $2.3 trillion asset, a rarity in the world. Bitcoin is targeting a huge market, with the market value of gold at $25 trillion, and Bitcoin is competing with gold. Ethereum and Solana, on the other hand, are competing in the issuance, trading, and settlement of stablecoins and asset tokenization. These are massive markets - according to SIFMA and Savills, the total value of stocks, bonds, and real estate is $665 trillion; McKinsey also notes that the global payment industry processes 3.4 billion transactions annually, totaling $180 trillion.
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Link: Bitwise CIO: Bitcoin Competing for Market Share with Gold, Crypto Market Size Underestimated by Critics [Copy]
