‘Altseason for TradFi’ Underway As Investors Look To Rotate Profits Into Riskier Bets: Bitwise CIO Matt Hougan
The chief investment officer of crypto asset management firm Bitwise, Matt Hougan, says traditional finance (TradFi) companies are on the hunt for higher returns in the cryptocurrency space. In a new interview on The Wolf of All Streets, Hougan says that after making “tons of money” in Bitcoin exchange-traded funds (ETFs), TradFi firms are now seeking alternative opportunities in the industry. “They made all this money. All this money flowed into Bitcoin. The price went up a 140%. And what are they going to do? They’re going to rotate into like Kellogg’s [stock]? No, they’re going to rotate into Circle and Ethereum and treasury companies. And now ETH treasury companies. And now Solana treasury companies… It’s going to go all the way. It’s altseason in TradFi for sure.” The Bitwise CIO says the trend of investing in crypto treasury companies is in an early phase. According to Hougan, the trend is only going to accele...