Bitwise: Crypto industry in a transitional phase similar to AI in 2015

Jeff Park, Head of Alpha Strategies at Bitwise, said the cryptocurrency industry is currently in a "narrow window" of transition similar to that of the AI industry around 2015. He noted that at the time, only a few individuals recognized the AI revolution, and it took approximately 10 years for it to become mainstream. Park argued that while the direction of the crypto industry, with its "permissionless money" and on-chain capital markets, has already been proven, it is now in its most difficult phase, where AML/KYC regulations and legacy financial infrastructure are limiting the speed of its expansion. He further explained that BTC is a monetary experiment created by technological evolution, while most cryptocurrency projects are technological experiments created by monetary evolution. He concluded by arguing that the core of the crypto industry is not simply decentralization but "technological financialization."