Bitwise CEO Hunter Horsley predicts that within the next 6 months, two-thirds of global financial institutions will enter the cryptocurrency market, presenting direct conversations with major bank executives as the basis for his outlook.
What happened: The introduction outlook of Bitwise CEO
In an appearance on the Talking Tokens podcast, Horsley stated that he expects 66% of all financial institutions to begin utilizing digital assets in the near future. He explained that this prediction is based on personal discussions with bank CEOs, presidents, and chairpersons.
Hoskinson said, 'I have spoken with several CEOs and presidents of banks, as well as some chairpersons, and I believe that all of this is happening right now,' adding that 'two-thirds of all financial institutions will enter cryptocurrency within the next six months.'
The co-founder of Bitwise added that more than half of the added fintech companies will also enter this space. He described this broader trend as the industry 'getting wired-up connected,' viewing cryptocurrency as a means of value storage and an asset class that is becoming mainstream, used by billions.
Also Read: XRP Drops 33% But Nine-Year Trendline Holds Strong
Why It Matters: Accelerating Institutional Transition
Hoskinson argued that the entry of hundreds of large corporations and financial institutions into the cryptocurrency market, providing this asset class to their existing customer base, signifies a fundamental change. He described this moment as when cryptocurrency 'leaves a trace in the universe, truly exists everywhere, and becomes something permanent.'
This outlook is noteworthy as Bitwise is one of the largest cryptocurrency index fund operators, but it is still uncertain whether traditional finance will move at the pace mentioned by Hoskinson.
Read Next: Ethereum Loses $2,000 Level Amid Bearish Momentum
