Cryptographic investors can underestimate the extent of the new position of the regulator of American securities on the crypto, which means that the prices of cryptography still have room to develop, according to Bitwise’s director of investments.
The president of the Securities and American exchange committee, Paul Atkins, published a speech he delivered on July 31 at the America First Policy Institute on the way the blockchain will be integrated into the financial markets.
Matt Hougan of Bitwise said on Tuesday that the speech had taken him “off guard” and let him wonder if Atkins’ vision had been evaluated on the market.
“The most optimistic document I have read on Crypto was not written by a Yahoo on Twitter. It was written by the president of the SEC.”
“I cannot imagine reading the speech and not wanting to allocate an important part of your capital to the crypto, or, if you work in finance, an important part of your career,” said Hougan.
Cryptographic markets have won considerably since the election of American president Donald Trump, who had promised to change the leadership and the management of the dry.
Bitcoin increased new heights of all time after former president Gary Gensler resigned on January 20 and Trump took office.
He increased again when Paul Atkins was sworn in as a new chair on April 21.
Under its reign, the agency rejected long -term application measures against cryptographic companies and, more recently, launched Project Crypto, an initiative aimed at establishing clear regulations.
However, Hougan said that it is likely that the market may not yet fully appreciate the implications of dry changes.
“I realize that I must think bigger – and go to a faster chronology. If it was not a price for me, I will guess that it was not a price for others.”
Paul Atkin’s vision of dry for crypto
During his speech, Atkins said that the SEC, among other initiatives, considered the best way to guarantee that the rules and regulations do not suffer from the growth of the onchain markets.
“It is as if the president of the SEC has taken all the best ideas that the supporters of the cryptos have promoted for a decade and have packaged them in a single speech, as well as details on the way the dry can actually make them occur,” said Hougan.
“There is a lot to unpack in the discourse for investors; You could build an entire venture capital company around the president’s vision, creating companies to take advantage of each opportunity he presents. ”
Blockchain and great applications at the top of the list
Hougan said blockchains could be ready for growth according to what Atkins said in his speech on all assets, such as stocks, bonds and dollars, going to public blockchains.
“You don’t need a genius to see it: if almost all of the assets go to public blockchains, you want an exhibition to these blockchains,” added Hougan.
At the same time, the mention of Atkins of super applications, which Coinbase and Robinhood have already adopted as a concept, could be another area that is developing.
“I will go out on a member here: one of these companies could become the largest financial service company in the world, perhaps even to become the first financial services company worth more than 1 dollars. Atkins gave them a roadmap,” said Hougan.
Defi could prosper with clear regulations
Hougan also predicted that decentralized financing applications (DEFI) will benefit from a more user -friendly sec, after having lived in a regulatory gray area.
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Atkins declared in his speech that DEFI would play an important role in the future, after having suffered under the yoke of a hostile regulatory environment.
“With greater clarity, these figures could increase by 10x? 50x? 100x? While the traditional and cryptographic markets merge, the opportunity is enormous,” said Hougan.
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