[Bitwise Report: The Value of Cryptocurrency Lies in Its Disruption of Trillion-Dollar Markets Like Gold and Payments] According to CoinDesk, asset management firm Bitwise stated in its latest report that the true value of cryptocurrency stems from the massive traditional markets it aims to disrupt, rather than niche applications. The report uses Bitcoin as an example, noting that its $2.3 trillion market capitalization is derived from its competition with the $25 trillion gold market. Bitwise believes that Bitcoin only needs to capture less than 10% of the gold market to support its current valuation. The same logic applies to smart contract platforms like Ethereum and Solana. These platforms are working to handle payments, settlements, and tokenized assets, targeting the global payments industry, which processes $1.8 quadrillion annually, as well as the $665 trillion combined value of the stock, bond, and real estate markets.