Bitwise Asset Management has emphasized the disruptive potential of cryptocurrencies in its latest report, highlighting their impact on massive traditional markets. The report, as noted by CoinDesk, argues that the true value of cryptocurrencies lies in their ability to challenge and potentially capture portions of these vast markets, rather than focusing on niche applications. Using Bitcoin as a primary example, Bitwise suggests that its $2.3 trillion market capitalization is justified by its competition with the $25 trillion gold market. The report posits that Bitcoin needs to capture less than 10% of the gold market to sustain its current valuation. Similarly, smart contract platforms like Ethereum and Solana are targeting the $1.8 quadrillion global payments industry and the $665 trillion global stock, bond, and real estate markets, aiming to revolutionize payments, settlements, and tokenized assets.