o3n [ozone] blockchain layer

Blockchain source

Menu
  • Cybersecurity services
Menu

ETF.com President and Bitwise Researcher Matt Hougan: 95 Percent of Cryptos Will Die

Posted on February 6, 2019 by nbelov

Matt Hougan expressed his idea that most cryptocurrencies will die, and the “sooner that happens, the better.”

Matt Hougan, Global Head of Research at Bitwise Asset Management and president at ETF.com, expressed his idea that most cryptocurrencies will die in an interview with Bloomberg published on Feb. 5.

During the interview, Hougan declared that he thinks that “there are 2,000 cryptocurrencies out there, 95 percent of them are useless and will die a painful death” and concluded:

“The sooner that happens, the better.”

According to Hougan, there is a lot of what he defines as bubble-related bad activity in the crypto industry that is currently “getting cleared up.” He also said that he expects important things will come from what will be left, “just like from the dotcom ashes emerged Amazon, Google, Facebook, etc.”

Hougan also pointed out that he’s “way more bullish on crypto assets” than on blockchain. To explain, he compared the current state of blockchain to the internet’s nascency:

“If you remember the early days of the internet […] everyone was really excited about corporate intranets. […] People thought corporate intranets were the thing. The analogy between an open internet which people are like no one will trust that…”

According to him, it “is the same between private blockchains and public blockchains” since public chains are accessible by anyone and need a crypto asset and, according to him, “open accessible technologies tend to win.”

However, he still thinks that private blockchains have their role and are important since they could permit faster and cheaper settlements and data management. For instance, Hougan explained that private blockchains could be a solution to mortgage management.

When his interviewer changed the subject to initial coin offerings (ICOs), Hougan declared that a lot of ICOs were scams and commented that “[people] are going to jail and I think they should.” Still, he highlighted that it “doesn’t mean that there aren’t legitimate things.”

Hougan also stated his hope that his firm can “launch an [Exchange Traded Fund] ETF that gives that exposure [to crypto] to everyone and makes it safe cheap and easy to gain exposure to in the market.”

In January, Bitwise had filed with the United States Securities and Exchange Commission (SEC) to launch a physically held Bitcoin (BTC) ETF.

As Cointelegraph recently reported, the Chicago Board Options Exchange (CBOE), along with investment firm VanEck and financial services company SolidX, has now re-applied with the SEC for a rule change to list a Bitcoin ETF.

Also, in mid-January Ed Tilly, CEO, president and chairman at CBOE, declared that there is a need for Bitcoin exchange-traded notes in order for Wall Street institutional investors to join the crypto space.

Source: Cointelegraph https://cointelegraph.com/

Recent Posts

  • Blockchain in Education Market Expected to Witness a Sustainable Growth Over 2029 | Sony Global Education, odem.ioÂ, Open Source University – Designer Women – Designer Women July 1, 2022
  • Ripple: Government of Colombia Set to Utilize XRPL Blockchain for Land Registry – U.Today July 1, 2022
  • Blockchain Identity Management Market 2022-2028: Featuring Key Players Amazon Web Services Inc., Microsoft, IBM & Others – ResearchAndMarkets.com – Business Wire July 1, 2022
  • $23.3 Billion Global Web 3.0 Blockchain Market Growth with GAGR of 41.6% 2022-2028 | The Benefits such as Improved Privacy & Secure Network Driving the Market – GlobeNewswire July 1, 2022
  • Blockchain Bites: A$DC used in Carbon Credit purchase; Three Arrows to be liquidated in BVI; Laying the first blocks of US crypto regulatory reform; Hong Kong to licence VASPs and regulate market conduct – Lexology July 1, 2022
  • Minima's cooperative Blockchain network reaches 120000 complete nodes – IBS Intelligence July 1, 2022
  • 'Global Economy Can Be Fixed By Digital Transformation And Blockchain Technology' – Entrepreneur July 1, 2022
  • Global Blockchain Technology in Healthcare Market Report 2022-2027: Rising Application of Blockchain in Healthcare Claims and Billing Driving Growth – ResearchAndMarkets.com – Business Wire July 1, 2022
  • Laura K. Inamedinova on Maximizing Press for Blockchain Projects – Crypto Mode July 1, 2022
  • Coinbase denies reports of selling customer data to the US government July 1, 2022
  • Not giving up: VanEck refiles with SEC for spot Bitcoin ETF July 1, 2022
  • Bitcoin price: June close barely beats 2017 high as Coinbase Premium flips positive July 1, 2022
  • Key Takeaways | Crypto, Smart Contracts and Blockchain—Execution and Innovation – Lexology July 1, 2022
  • MakerDAO members shoot down proposal for more centralization July 1, 2022
  • OwlTing enlists Dow Jones database to enhance blockchain transaction security – DIGITIMES July 1, 2022
  • Multisigs mean funds in bridges are 'one small slipup' from being hacked July 1, 2022
  • Hundreds of Bored Ape owners sign up to hire out their NFTs to brands July 1, 2022
  • Better days ahead with crypto deleveraging coming to an end: JPMorgan July 1, 2022
  • Ethereum fork a success as Sepolia testnet gears up to trial the Merge July 1, 2022
  • Worst quarter in 11 years as Bitcoin price and activity plunges July 1, 2022
  • Societe Generale – FORGE selects METACO to manage blockchain asset capabilities – CryptoNinjas July 1, 2022
  • BnkToTheFuture unveils 3 proposals to rescue Celsius from oblivion July 1, 2022
  • EU agrees on MiCA regulation to crack down on crypto and stablecoins July 1, 2022
  • Kalima – A new way to collect, protect and monetize data using Blockchain for IoT – CryptoNinjas July 1, 2022
  • FTX Abandoned Discussions to Celsius Network Acquisition – Report – Blockchain.News July 1, 2022
  • Xinghuo BIF and Zetrix Jointly Introduce Web3 Services: Blockchain Identity/Verifiable Credentials and Contract Signing – GlobeNewswire July 1, 2022
  • Rewards4Earth plans to roll out crypto rewards to 1000 sports clubs in Australia July 1, 2022
  • Klever goes live with Mainnet of its native blockchain – FinanceFeeds July 1, 2022
  • CoinAgenda Announces First Round of Speakers for Ninth Annual Las Vegas and Sixth Annual Puerto Rico Web3, Blockchain and Crypto Conferences – GlobeNewswire June 30, 2022
  • Blockchain.com Cooperating With Investigations Into Three Arrows – Bloomberg June 30, 2022

Ad

Ad

©2022 o3n [ozone] blockchain layer | WordPress Theme by Superbthemes.com