Institutional Shift Signals New Phase in Bitcoin’s Maturity, Says Bitwise CIO

Bitcoin is no longer the speculative playground it once was, according to Bitwise CIO Matt Hougan.

In a recent interview with Crypto Prime, Hougan described the current market cycle as a turning point—marking Bitcoin’s shift from a high-volatility asset into something far more strategic: a macro hedge.

Unlike previous bull runs led by retail enthusiasm and crypto-native traders, this phase is increasingly shaped by the involvement of institutional giants—hedge funds, corporations, and even governments—viewing Bitcoin as a tool for long-term value preservation.

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“Bitcoin isn’t the same asset it was five years ago,” Hougan noted, emphasizing its transformation from a fringe risk asset to a maturing financial instrument. Comparing its growth to adolescence, he suggested Bitcoin is in the process of redefining its role in global markets.

As Bitcoin begins to behave more like digital gold, Hougan believes its appeal will broaden, attracting a wave of new capital from those seeking a reliable hedge in a complex macroeconomic landscape.

Alexander Stefanov