Bitwise CIO Matt Hougan stated in a CNBC interview that Bitcoin is expected to deliver steady, albeit less explosive, returns over the next decade, with reduced volatility compared to previous cycles. Hougan attributes this stability to gradual and sustained institutional buying, which is supporting prices and resulting in a smaller drawdown in the current cycle compared to historical norms. While optimistic about Bitcoin's performance in 2026, Hougan noted that regulatory benefits have largely been priced in, limiting further significant upside potential.