Bitwise Chief Investment Officer Matt Hougan stated that investors may be underestimating the SEC's new stance on cryptocurrency, indicating that cryptocurrency prices may still have room to rise.
SEC Chairman Paul Atkins delivered a speech at the American First Policy Institute discussing how blockchain can be integrated into financial markets.
Hougan stated that this document did not come from amateurs on Twitter, but from the SEC Chairman. His vision may not yet be fully reflected in the market.
"This is the most optimistic document I have read about cryptocurrency."
Bitcoin reached new highs after Trump's election and the new SEC leadership took office. After Paul Atkins took office, the SEC suspended long-term enforcement actions against crypto companies and launched Project Crypto to establish a clear regulatory framework.
However, Hougan believes that the market has not yet fully grasped the impact of these changes.
"I realize that greater thinking and faster action are needed. If I did not anticipate it, others might not have either."
SEC Chairman Paul Atkins' vision for cryptocurrency
In his speech, Atkins stated that the SEC is studying how to ensure that the rules do not hinder the growth of on-chain markets.
Blockchain and super applications become the focus
Hougan believes that more and more assets will appear on public blockchains, and super applications will also be a growth area.
DeFi is expected to develop under clear regulations
Hougan predicts that DeFi applications will benefit under friendly SEC regulations and may experience significant growth.
Atkins stated in his speech that DeFi will play an important role in the future.