- Bitwise CIO Matt Hougan said that the “most powerful people in finance” are buying crypto
- During a recent speech, Hougan noted that nearly everyone raised their hands when asked if they owned Bitcoin or other cryptocurrencies, a significant change from previous years
- Hougan predicts that financial advisors’ clients will likely start allocating to crypto within the next 6-12 months, following the trend of the advisors themselves
Bitwise chief investment officer Matt Hougan recently discussed a major shift occurring in the crypto industry – specifically regarding who owns Bitcoin and other digital assets. His comments provide interesting insight into how cryptocurrency ownership is evolving among top figures in the finance sector.
Bitwise CIO Notes Major Shift in Crypto Ownership
In a January 2022 speech, Hougan highlighted the massive changes that have taken place in crypto ownership trends over the past year. He pointed to the launch of the first Bitcoin ETF in the US, which opened crypto investment to a whole new category of investors.
According to Hougan, this has led to a shift in who owns crypto, with more prominent individuals in finance now allocating to Bitcoin and other digital currencies.
Finance Sector Increasing Crypto Exposure
When asked how many in the audience own crypto, Hougan noted a stark difference from speeches given over the past three years. In the past, maybe only 10-20 people would raise their hands. This time, nearly everyone did.
However, fewer kept their hands up when asked if their clients had been allocated to crypto. Hougan believes this gap between advisor and client exposure will close over the next 6-12 months, based on past trends.
The Takeaway
Hougan’s comments suggest crypto ownership is accelerating among top finance figures, even if their clients remain underallocated for now. The launch of the first Bitcoin ETF in the US appears to have spurred greater personal investment in digital assets by financial leaders. This could be a harbinger of even more institutional crypto adoption on the horizon.
Conclusion
The crypto landscape is rapidly evolving. Ownership trends provide valuable insight into where the industry may be headed next. According to Bitwise’s Matt Hougan, the finance sector’s exposure to Bitcoin and other digital currencies is clearly increasing. As more prominent figures get on board personally, broader institutional adoption may not be far behind.
