[SMART MONEY] News that shows why REAL YIELD matters 👇 "Bitwise Chief Investment Officer Matt Hougan said he is increasingly concerned that the U.S. Congress will 'fumble the ball at the one-yard line' on crypto regulation, warning that the industry is in for a difficult summer if legislative efforts fizzle out." - @BitwiseInvest, @Matt_Hougan and @TheBlock__ Matt Hougan still sees most assets hitting new ATHs. Bitcoin could top $200K if stablecoin & market-structure bills pass. But if Congress fumbles now . . . → Institutions get spooked → Volatility surges → Growth stagnates Markets hate uncertainty. In times of unpredictable volatility, actively managed strategies can account for arbitrage opportunities and big price action. REAL YIELD is related to protocol revenue: trading fees, loan interest and block rewards. Robust vaults combine . . . → Permissioned managers and locked capital → Audited NAVs for on-chain valuation → Transparent, consistent reporting Institutional-grade infrastructure is imperative for SMART MONEY . . . esp in current market conditions. Source in 🧵