Bitwise CIO: Bitcoin is competing for gold's market share, and the crypto market size is underestimated by skeptics.

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On September 30, Bitwise CIO Matt Hougan posted on social media, stating that many crypto skeptics today often make the mistake of underestimating the scale of the market that Crypto Assets are set to penetrate. Bitcoin is already a $2.3 trillion asset, and there are very few things in the world that can reach this scale. Bitcoin is targeting a huge market, with gold's market capitalization at $25 trillion, and Bitcoin is competing with gold. Meanwhile, Ethereum and Solana are competing in the fields of stablecoin and asset tokenization issuance, trading, and settlement. These are all massive markets—according to data from SIFMA and Savills, the total value of stocks, bonds, and real estate reaches $665 trillion; McKinsey pointed out that the global payment industry processes 34 billion transactions annually, amounting to $180 trillion.

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