The Crypto Bear Market is Over | Matt Hougan

**Matt Hougan** (0:00)
If you get the retail investors to stop selling while the institutions continue to allocate and actually ramp up their allocations, those are the kind of ingredients that make a bottom.

**Ran Neuner** (0:08)
I'm really keen to hear what you think of this whole sailor phase.

**Matt Hougan** (0:12)
I think he's less important in the future than he has been in the past. That's my net. He's been the biggest accumulator of Bitcoin. I think those days are over. It just seems transparently obvious to me that we're gonna have $100 trillion move on chain in the next handful of years. I think this next market full run is more likely to be led by the applications and by the TradFi companies. If you ask me who's the first to a trillion dollars, though, I might go on the Robinhood side of the spectrum. If it does pass, I think the bottom is in and we rip straight higher.

**Ran Neuner** (0:44)
How do institutional investors see Bitcoin? What is Bitcoin to them?

**Matt Hougan** (0:47)
For institutional investors.

**Ran Neuner** (0:52)
When people tell me that crypto is showing signs of a bottom, I don't usually pay attention. But when someone who's very, very, very plugged into the institutional narrative, someone who's tapped into the institutional cycle, who speaks to 15,000 institutions a year, tells me that crypto is finally showing signs of a bottom, then I start paying attention. And today, that's exactly who we've got on the show. We've got Matt Hougan on our show today. He's coming in with an institutional view. I know we get lost in Twitter and I know we get lost in the tweets and whether we're at the top or whether we're at the bottom. But it does become a bit more real when you're speaking to someone who speaks to the institutions and is telling you that the next cycle is going to be driven by the institutions. And if it is, then maybe we can talk about a tweet that I made the other day where I said that I know it doesn't feel like it, but the next cycle will be huge. And the reason why I think that the next cycle will be huge is because it's not going to be driven by retail investors putting $1,000 into a meme coin chart. It's going to be driven by licensed players who are channeling institutional capital into a market that doesn't have any liquidity. And when that happens, when you put $500 billion into that chart, then all of a sudden the entire asset goes up. And that's before we start talking about AI agents and increasing transactions. And that's everything that we're going to be covering on the show today with Matt Hougan. It is an unbelievable show. I can tell you when we filmed it, I can tell you that the entire studio left here pumped and amped to be back in Crypto. So this is really, really one that you want to watch.
Before we get into the action, I must remind you though that these shows are sponsored. You know, it's not coincidental that we can just get all the big guests on our show. We have great sponsors. And one of the sponsors that we actually have is OKX, and specifically OKX in Europe. And the reason why they sponsor us is because we know that with the MiCA regulations, a lot of you don't have crypto accounts.
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And then let's get the show on the road, guys. Let's get the show on the road. Matt, welcome, my friend, good to see you again.