Bitwise CIO Matt Hougan believes that there is a significant political shift regarding cryptocurrency taking place in Washington, D.C. In a recent memo, Hougan highlights the growing political influence of the crypto industry, including the establishment of a prominent political action committee in D.C. He argues that if people truly understood the implications of this shift, crypto markets would already be at record highs.

Hougan points out that despite his efforts to raise awareness about the political developments in Washington, he has found that people outside of the crypto bubble are largely disinterested. The complexity of the story and its distant impact on everyday life seem to deter people from paying attention. However, Hougan asserts that although no policies have changed yet, the tide is turning in favor of crypto. He believes that once the actions take place, the market will reach new all-time highs.

According to Hougan, a significant portion of the $20 trillion currently managed by financial advisors will flow into digital assets once the tension between politicians and the crypto industry subsides. He suggests that if Wall Street fully embraces crypto as a mainstream asset, the market will experience a substantial boost. However, until that happens, there may be opportunities for alpha returns.

In conclusion, Hougan emphasizes that the crypto market is entering a new era, and once the market fully recognizes this, it will drive the industry towards new heights. However, he cautions investors to conduct their own research and exercise caution when investing in Bitcoin, cryptocurrencies, or digital assets, as there are inherent risks involved. The Daily Hodl, where this article is published, does not provide investment advice or act as an investment advisor.