{"id":40833,"date":"2024-11-05T23:22:45","date_gmt":"2024-11-05T23:22:45","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitwise-cio-us-election-is-going-to-be-a-speed-bump-or-wind-gust-for-crypto\/"},"modified":"2024-11-05T23:22:45","modified_gmt":"2024-11-05T23:22:45","slug":"bitwise-cio-us-election-is-going-to-be-a-speed-bump-or-wind-gust-for-crypto","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitwise-cio-us-election-is-going-to-be-a-speed-bump-or-wind-gust-for-crypto\/","title":{"rendered":"Bitwise CIO: US election is going to be a speed bump or wind gust for crypto"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_US-Dollar-and-Bitcoin-placed-together-to-show-investment-concept-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_US-Dollar-and-Bitcoin-placed-together-to-show-investment-concept-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_US-Dollar-and-Bitcoin-placed-together-to-show-investment-concept-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/03\/06_US-Dollar-and-Bitcoin-placed-together-to-show-investment-concept-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li aria-level=\"1\">Bitcoin\u2019s value has risen over 400% between 2020 and 2024<\/li>\n<li aria-level=\"1\">Solana has increased in value by nearly 4,500% from $1.49 to around $166 in four years<\/li>\n<li aria-level=\"1\">This trajectory of positivity will continue beyond the 2024 US elections, according to Matt Hougan<\/li>\n<\/ul>\n<p>Bitwise\u2019s CIO has said while Washington can alter the trajectory of the crypto market by speeding things up or slowing them down, it can\u2019t stop it.<\/p>\n<p>In his latest <a href=\"https:\/\/experts.bitwiseinvestments.com\/cio-memos\/crypto-has-already-won\" target=\"_blank\" rel=\"noopener\">client memo<\/a>, Matt Hougan wrote about crypto in an election year, claiming that crypto has already won, regardless of who becomes the next President of the United States.<\/p>\n<p>Comparing the state of the crypto market from November 2020 to November 2024, Hougan questioned whether things are better or worse since the last time Americans went to the polls.<\/p>\n<p>Despite several lawsuits from the US Securities and Exchange Commission (<a href=\"https:\/\/coinjournal.net\/search\/SEC\">SEC<\/a>) \u2013 notably against <a href=\"https:\/\/coinjournal.net\/news\/us-sec-sues-binance-and-coinbase-but-bitcoin-remains-above-26k\/\">Binance, Coinbase<\/a>, <a href=\"https:\/\/coinjournal.net\/news\/sec-sues-crypto-market-maker-cumberland-drw\/\">Cumberland DRW<\/a>, <a href=\"https:\/\/coinjournal.net\/news\/judge-denies-kraken-motion-to-dismiss-sec-lawsuit\/\">Kraken<\/a>, and <a href=\"https:\/\/coinjournal.net\/news\/ripple-files-cross-appeal-challenging-secs-xrp-institutional-sales-ruling\/\">Ripple<\/a> \u2013 the crypto industry has made significant progress.<\/p>\n<h2>A four-year difference<\/h2>\n<p>Looking between the two US elections, Hougan points out that Bitcoin was trading at $13,677 in November 2020. Fast-forward to November 2024 and Bitcoin is valued at around $69,492, indicating a 408% change.<\/p>\n<p>Ethereum has also seen a positive increase from its humble $388 in 2020 to its now $2,492 in the runup to the 2024 <a href=\"https:\/\/coinjournal.net\/search\/us+election\">US election<\/a>. However, it\u2019s <a href=\"https:\/\/coinjournal.net\/search\/solana\">Solana<\/a> that has seen a major increase in price rising nearly 11,000% from $1.49 in 2020 to around $166 in 2024.<\/p>\n<p>Turning to assets under management (AUM), Hougan shows that <a href=\"https:\/\/coinjournal.net\/search\/stablecoin\">stablecoin<\/a> AUM rose from $3.87 billion in November 2020 to $177.83 billion in November 2024, representing a near 4,500% change.<\/p>\n<p>Decentralized finance (<a href=\"https:\/\/coinjournal.net\/search\/DeFi\">DeFi<\/a>) total value locked (TVL) also experienced a healthy boost, jumping from $9.57 billion in 2020 to $139.3 billion in 2024.<\/p>\n<p>\u201cWe focus so much in crypto on the moment-by-moment movement of prices that we often lose sight of the long-term trends,\u201d Hougan wrote. \u201cThe presidential election provides a nice opportunity to step back and see how far we\u2019ve come.\u201d<\/p>\n<h2>What next?<\/h2>\n<p>So much has already happened in the crypto market over four years, but will that continue as the market goes beyond the 2024 US election?<\/p>\n<p>In Hougan\u2019s view, the answer is yes. Regardless of who becomes the next POTUS, Hougan said \u2013 among other things \u2013 that spot crypto exchange-traded funds (<a href=\"https:\/\/coinjournal.net\/search\/ETFs\">ETFs<\/a>) inflows will continue, stablecoins will continue to grow, Wall Street will continue to embrace tokenization and real-world assets, blockchains will get faster and cheaper, and real-world applications such as <a href=\"https:\/\/coinjournal.net\/search\/polymarket\">Polymarket<\/a> will gain mainstream adoption.<\/p>\n<p>\u201cWhat happens in Tuesday\u2019s election matters, particularly in the short term,\u201d said Hougan. \u201cBut as I see it, over the long term Tuesday will prove to be something between a speed bump and a wind gust. Neither is going to stop this train.\u201d<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/bitwise-cio-us-election-is-going-to-be-a-speed-bump-or-wind-gust-for-crypto\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) Bitcoin\u2019s value has risen over 400% between 2020 and 2024 Solana has increased in value by nearly 4,500% from $1.49 to around $166 in four years This trajectory of positivity will continue beyond the 2024 US elections, according to Matt Hougan [&hellip;]<\/p>\n","protected":false},"author":3947362367,"featured_media":40834,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/40833"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/3947362367"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=40833"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/40833\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/40834"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=40833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=40833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=40833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}