Bitwise CIO Warns Crypto Has Until 2029 to Prove Utility as CLARITY Act Support Falls

Bitwise Chief Investment Officer Matt Hougan argues that crypto has roughly three years to prove its real-world value or face the risk of harsh regulation, amid fading prospects for the CLARITY Act and public criticism from Coinbase CEO Brian Armstrong. He contends that by 2029, stablecoins and tokenized assets must become widely used in daily life and traditional finance to secure favorable laws, while linking the surge in gold above $5,000 per ounce to weakening trust in centralized institutions. Despite legislative delays, he points to growing Ethereum activity, a stablecoin market cap above $300 billion, and Uniswap surpassing Coinbase in trading volume as signs of underlying market strength.