Bitwise CIO: Although politicians have repeatedly publicly supported Bitcoin, the market's optimistic sentiment towards Bitcoin is still insufficient.

Odaily Odaily News Bitwise CIO Matt Hougan believes that the market is "not optimistic enough" about Bitcoin, and investors need to rethink the potential upside of this mainstream cryptocurrency after the Bitcoin 2024 conference. Hougan believes that political support may be due to the growing popularity of cryptocurrencies among Americans. The industry's strong lobbying influence in Washington has prompted many politicians to publicly support Bitcoin, even if their support is more about appealing to its growing popularity than a real belief in its value. This shift in perspective and the growing popularity of Bitcoin has made Hougan "rethink what is possible." Hougan pointed out that these ideas that were once considered far-fetched are becoming more and more likely: G20 countries adding Bitcoin to their balance sheets to preempt the United States, the rapid passage of comprehensive crypto legislation due to bipartisan support, and Wall Street's large-scale acceptance of crypto.