The chief investment officer of Bitwise Asset Management, Matt Hougan, says that he is confident Bitcoin (BTC) will print new all-time highs.
In a new interview with Fox Business, Hougan says that Bitcoin will likely cross the $30,000 level in the near term and eventually hit new all-time highs by next year.
Hougan says that the crypto markets were hit by scandals last year after soaring too quickly, but that digital assets are now poised to recover after flushing out excessive leverage.
“I definitely think we’re going to get above that $30,000 level. I think we’re eventually going to get to new all-time highs. You know we had a reset last year with all the issues that crypto had around FTX, around LUNA. It had gotten too big, too fast, and we blew up. But we’ve cleaned up, we’ve reset and now we’re up 77% year-to-date. It’s the best-performing asset class in the world.
I certainly think we’re going to get eventually above that $30,000 and as I said, I think we’re moving to all-time new highs. Maybe not this year, but certainly by next year.”
Hougan is also blasting U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler for applying rules created in the 1930s to regulate technological innovations in the 21st century.
“This is the only industry in America that’s begging for more regulation. We’re asking for more rules, more clarity, so that the benefits can apply to the American people. And Gensler and the SEC are trying to apply these rules that were written in the 1930s to a technology in the 21st century. It doesn’t work.”
Bitcoin is trading for $29,416 at time of writing.
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