Bitwise CIO: Traditional finance professionals fail to understand the advantages of crypto assets

ChainCatcher news, according to The Block, Bitwise Chief Investment Officer Matt Hougan pointed out in the latest client update that traditional financial supporters have failed to understand the advantages of Bitcoin, stablecoins, and the broader digital asset industry.

He stated that the existing financial system suffers from inefficiencies and high costs, such as checking accounts offering only a 0.07% yield, savings accounts yielding 0.38%, and payment settlements taking several days.

Hougan believes that blockchain technology can enable instant payments, near-zero fees, and real-time yield accumulation. He cited examples such as African businesses using stablecoins to circumvent inefficient banking systems and Stripe's acquisition of stablecoin company Bridge to illustrate how crypto assets are gradually being applied in areas where traditional systems are inefficient.

He expects that as the regulatory environment improves and usability increases, most financial activities will eventually shift to crypto infrastructure.