Matt Hougan, CIO of Bitwise, forecasts Bitcoin could achieve an average annual return of 28% over the next ten years, significantly surpassing typical equity and bond returns. Hougan's projection, shared in a recent post, contrasts with Wall Street's expectations of around 5% for equities and 4% for bonds, positioning Bitcoin as a potential standout in long-term portfolios. Despite the current bear market, Hougan remains optimistic, likening the situation to previous crypto winters in 2018 and 2022. He notes that institutional investors continue to accumulate Bitcoin and Ethereum, indicating confidence in the market's future. Hougan also highlights structural growth in decentralized finance, stablecoins, and tokenization as signs of deeper integration between crypto and traditional finance. Hougan anticipates a gradual market recovery starting in 2026, with fundamentals strengthening before valuations catch up. He expects continued progress in stablecoin adoption and decentralized finance innovation, suggesting a long-term structural transformation for the crypto industry.