CryptoMediaClub
Monday, October 27, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Analysis

Bitwise CIO says market is ‘not bullish enough’ amid rising political endorsements

01.08.2024
A A
0
127
VIEWS
ShareShare

Bitwise CIO Matt Hougan believes the market is “not bullish enough” about Bitcoin, and investors need to rethink the flagship crypto’s potential upside after what happened at the Bitcoin2024 conference.

Hougan’s reflections on the 2024 Bitcoin Conference in Nashville suggest a dramatic shift in what’s possible for Bitcoin compared to even two years ago. He attributed the shift in sentiment to the significant political endorsements Bitcoin received at the event.

Hougan said:

“What’s happening in the Bitcoin market right now makes me rethink what’s possible.”

Shifting tides

The conference, which took place in Nashville, showcased unprecedented political endorsements for Bitcoin. GOP presidential nominee Donald Trump announced plans for a strategic national bitcoin stockpile, aiming to make America the “crypto capital of the world.”

Meanwhile, Sen. Cynthia Lummis (R-WY) introduced a bill advocating for the US Treasury to acquire 1 million Bitcoin in the open market, while Rep. Ro Khanna (D-CA) called on Democrats to embrace Bitcoin as a key part of America’s financial future.

Sen. Roy Haggerty (R-TN) and Sen. Marsha Blackburn (R-TN) also expressed their support, with the former stating that Bitcoin was in his “DNA.”

Independent presidential candidate Robert F. Kennedy Jr. vowed to make Bitcoin a strategic reserve asset if elected. RFK added that he would issue an executive order on day one directing the Treasury to acquire 4 million Bitcoin to match the US’ 19% share of global gold reserves.

Even presumptive Democratic presidential nominee Kamala Harris, though absent, reportedly felt the political pressure, leading her team to hint at a “reset” with crypto companies following strong criticisms from industry leaders.

Hougan highlighted the dramatic turnaround in the crypto landscape, saying:

“Less than two years ago, FTX was collapsing in a historic fraud, bitcoin was trading at $17,000, and skeptics were dancing on crypto’s grave. Now, politicians are openly talking about building a ‘Bitcoin Fort Knox.'”

Hougan suggested that political endorsements may be driven by the growing popularity of crypto among Americans. He explained that crypto has gained substantial political influence in the US due to its widespread adoption, with over 80 million Americans owning crypto.

He noted that the industry’s powerful lobbying presence in Washington has prompted many politicians to publicly support Bitcoin, even if their backing is more about appealing to its growing popularity than genuine belief in its value.

According to Hougan:

“Most politicians don’t truly love Bitcoin; they are just genuflecting to its rising popularity.”

However, he also noted:

“But I’m not sure that matters. When you say ‘opportunism,’ I say, ‘That’s how politics works.’ Politicians are embracing crypto because Americans are embracing crypto.”

Daydreams now plausible

According to Hougan, this shift in perspective and the rising popularity of Bitcoin have made him “rethink what’s possible.”

He highlighted several scenarios that seem more plausible now, including a G20 country adding Bitcoin to its balance sheet to preempt the US, comprehensive crypto legislation passing swiftly due to bipartisan support, and Wall Street massively embracing crypto.

Hougan noted that these ideas, once considered far-fetched, are becoming increasingly likely. He said:

“These ideas would have been the stuff of daydreams a year ago. But after what I witnessed last week, they look more likely than not.”

He concluded that all of these developments mean it’s time to reevaluate Bitcoin’s upside potential. Hougan believes the market is underestimating the shifting sentiment.

The post Bitwise CIO says market is ‘not bullish enough’ amid rising political endorsements appeared first on CryptoSlate.

Share10Tweet6ShareSharePin2

Related Posts

Bitcoin rally smashes past $116k on softer Fed bets: What changes next?
Analysis

Bitcoin rally smashes past $116k on softer Fed bets: What changes next?

27.10.2025
0

Crypto markets started this new week with a surge powered by a rare alignment of favorable macroeconomic shifts. According to...

Read moreDetails
The 5 unbelievable crypto comeback stories that changed the world forever

The 5 unbelievable crypto comeback stories that changed the world forever

25.10.2025
Inflation to set up Bitcoin melt-up as rates to fall to 2.75% by next October

Inflation to set up Bitcoin melt-up as rates to fall to 2.75% by next October

24.10.2025
How retail altcoin traders lost $800 billion betting against Bitcoin

How retail altcoin traders lost $800 billion betting against Bitcoin

24.10.2025
Is Solana ready for institutions? $700M real world assets and no downtime

Is Solana ready for institutions? $700M real world assets and no downtime

24.10.2025
Load More
Next Post
Tether Reports Record $5.2 Billion Profit in First Half of 2024

Tether Reports Record $5.2 Billion Profit in First Half of 2024

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Bitcoin’s Decline: Is the Storm Finally Passing?

Bitcoin’s Decline: Is the Storm Finally Passing?

2 years ago
Benefits Of Storing Election Data On Decentralized Databases

Benefits Of Storing Election Data On Decentralized Databases

12 months ago
Michael van de Poppe Predicts LTC Price as Halving Approaches

Michael van de Poppe Predicts LTC Price as Halving Approaches

2 years ago
Terra Luna Classic All Set for Community-owned Wallet

Terra Luna Classic All Set for Community-owned Wallet

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Crypto Transfers Between Korean Exchanges and Cambodia’s Huione Jump 1,400x to $8.9M

Bitcoin Nears $116K as Stocks Rally on Signs of Thaw in US-China Trade Tensions

Sharplink Gaming Adds $80M in Ethereum to Strategic Reserve After Month-Long Lull

Ledger Faces Backlash Over New Multisig App Fees Despite Technical Upgrade

Your Crypto Isn’t Safe Outside the Blockchain, Vitalik Buterin Warns

Kyrgyzstan Launches Stablecoin on BNB Chain, Eyes National Digital Currency and Crypto Reserve

Trending

Michael Saylor’s Strategy Buys 390 BTC, Boosting Treasury to 640K BTC
All news

Michael Saylor’s Strategy Buys 390 BTC, Boosting Treasury to 640K BTC

27.10.2025
0

Strategy, the business intelligence firm led by Bitcoin advocate Michael Saylor, has once again expanded its Bitcoin...

Bitcoin rally smashes past $116k on softer Fed bets: What changes next?

Bitcoin rally smashes past $116k on softer Fed bets: What changes next?

27.10.2025
China’s DeepSeek and Alibaba’s Qwen AI Beat Rivals in Crypto Trading Contest

China’s DeepSeek and Alibaba’s Qwen AI Beat Rivals in Crypto Trading Contest

27.10.2025
Crypto Transfers Between Korean Exchanges and Cambodia’s Huione Jump 1,400x to $8.9M

Crypto Transfers Between Korean Exchanges and Cambodia’s Huione Jump 1,400x to $8.9M

27.10.2025
Bitcoin Nears $116K as Stocks Rally on Signs of Thaw in US-China Trade Tensions

Bitcoin Nears $116K as Stocks Rally on Signs of Thaw in US-China Trade Tensions

27.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz