The math is simple but staggering: if just 1% of the roughly $200 trillion sitting in global capital pools—pensions, endowments, sovereign wealth funds, insurers—moved into bitcoin, it would spark a multi-trillion-dollar inflow. Bitwise CIO Matt Hougan is not being coy about the implication. He sees a future where large allocators treat digital assets as a standard portfolio sleeve, and the early stages of that shift may already be underway, according to the market analysis.