Bitwise CIO: Bitcoin is competing for market share with gold, and the size of the crypto market is underestimated by skeptics

ChainCatcher news, Bitwise CIO Matt Hougan stated on social media that one of the most common mistakes made by many crypto skeptics today is underestimating the scale of the market that cryptocurrencies are aiming to enter. 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 value at $25 trillion, and Bitcoin is competing with gold.

Ethereum and Solana are competing in the fields of stablecoin and asset tokenization issuance, trading, and settlement. These are all enormous markets—according to data from SIFMA and Savills, the total value of stocks, bonds, and real estate reaches $665 trillion; McKinsey points out that the global payments industry processes 34 billion transactions annually, amounting to $180 trillion.