Bitwise CIO: Bitcoin is actively competing for gold's market share, with skeptics of the crypto market's size being underestimated

September 30th: Matt Hougan, the CIO of Bitwise, stated on social media that a common error committed by many crypto skeptics currently is undervaluing the scale of the market that cryptocurrency is about to enter. Bitcoin is already an asset worth $2.3 trillion, which is a rarity in the world. Bitcoin is aiming at a massive market. The market value of gold is $25 trillion, and Bitcoin is competing with gold. On the other hand, Ethereum and Solana are competing in the issuance, trading, and settlement of stablecoins and asset tokenization. These are all enormous markets. According to SIFMA and Savills data, the total value of stocks, bonds, and real estate is $665 trillion. McKinsey also points out that the global payment industry processes 340 billion transactions annually, with a total value of $180 trillion.