Bitcoin · Goldman Sachs · The Block
Bitcoin takes back seat to stablecoins and tokenization among financial advisors: Bitwise CIO
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Financial advisors are now showing more interest in stablecoins and tokenization than bitcoin, according to Bitwise Chief Investment Officer Matt Hougan, who based the view on meetings with more than 40 advisors this week.
Key facts
- At the same time, Hougan said stablecoins and tokenization have moved to the center of industry discussions, with figures including Securities and Exchange Commission Chair Paul Atkins, Goldman Sachs
- The shift comes even as Hougan said he personally finds the current bitcoin price above $60,000 "incredibly attractive" for long-term investors and acknowledges that bitcoin has historically led
- Hougan noted that financial advisors collectively manage more than $175 trillion and said his discussions suggest they now "have a much broader and more nuanced view of crypto’s potential than they
- Financial advisors are now showing more interest in stablecoins and tokenization than bitcoin, according to Bitwise Chief Investment Officer Matt Hougan, who based the view on meetings with more
Summary
Hougan said he held eight sales calls in a single day, speaking with teams of advisors that highlighted two key themes: financial advisors remain interested in crypto despite the current bear market, but their attention is increasingly shifting beyond bitcoin. "Their eyes are on stablecoins and tokenization more than bitcoin," Hougan wrote in his latest memo published Wednesday. The shift comes even as Hougan said he personally finds the current bitcoin price above $60,000 "incredibly attractive" for long-term investors and acknowledges that bitcoin has historically led crypto out of previous bear markets because it is the largest and most established digital asset.