[Instead of being anxious about short-term price fluctuations, it’s better to take a long-term perspective]

Recently, a sharp correction in the crypto market has sparked panic among many investors. However, amid the fog of market pessimism, there are always sharp eyes that see a different landscape.

Bitwise Chief Investment Officer Matt Hougan, in an interview with CNBC, offered a clear-cut opinion: “I think this (the recent crypto market plunge) is an excellent buying opportunity for long-term investors looking toward 2026 and beyond.” He pointedly noted that, in the current environment, major players are “using cash to buy time, and acquisitions to buy the future.”

This isn’t just an inspiring slogan—it’s a reality unfolding before our eyes, reshaping the industry landscape.

1. The Web3 Table: New Players

In the past, cryptocurrencies were often seen as a playground for adventurers and retail investors. Today, the participants in this game have fundamentally changed.

We’re seeing not only native crypto giants like Coinbase actively making moves, but also big Web2 names like Robinhood, Mastercard, Stripe, and SoftBank frequently appearing in Web3 news. What does this mean?

It means Web3 is no longer just for entrepreneurs and retail investors—it’s attracting deep involvement from traditional capital, financial institutions, and even publicly listed companies. These giants have massive user bases, abundant cash reserves, and mature market channels. Their entry marks the industry’s shift from the margins to the mainstream, from the wild frontier to the professional army.

And “acquisition” is the most effective bridge for these traditional giants to fast-track into the Web3 express lane.

2. Why is Now the “Golden Age of Acquisitions” for Giants?

It’s no accident that giants are accelerating acquisitions at this moment. The current market conditions offer them a once-in-a-lifetime opportunity:

1. Primary market slump, tough times for projects: The prolonged market downturn has left most crypto startups facing the dual challenges of “difficult fundraising” and “tough exits.” Their bargaining power in the capital market is weakened, leaving them at a disadvantage.
2. Giants hold pricing power: Those with abundant cash or access to capital markets—public companies and giants—can now leverage their capital advantage to dominate acquisition pricing and deal structuring. For them, it’s possible to acquire high-quality projects—those with core technology, excellent teams, or valuable user assets—at much lower costs than during a bull market.
3. A “safe exit” for sellers: For struggling startups, accepting a giant’s acquisition offer during a market trough is often a safer and more realistic choice than “going all-in with a token issuance on the open market.” Accepting equity swaps, partial cash plus stock, or strategic partnership deals can not only help teams survive the winter, but also give them a bigger platform for long-term development.

3. The Takeaway: Take the Long View

Matt Hougan’s core message is to “look toward 2026 and beyond.” This reminds us that we must view the current volatility from a long-term perspective.

- For long-term investors: The deep market correction has squeezed out the bubble and made truly valuable assets available at more attractive prices. If you believe in the long-term future of blockchain technology, then today’s panic selling may present you with “chips stained with blood.”
- For industry professionals: The wave of acquisitions by giants shows that the industry’s value is being recognized and absorbed by the traditional world. Entrepreneurship no longer has only the “token issuance and listing” path; being acquired by a resource-rich giant is also a bright outcome. This encourages entrepreneurs to focus and hone technologies and products with real barriers to entry.
- For those on the sidelines: When Robinhood starts integrating crypto wallets, when Mastercard delves deeply into blockchain payments, when SoftBank invests in Web3 infrastructure, you should realize this is an irreversible trend. The giants, with real money and acquisitions, are pointing the way.

Market cycles have never stopped, but every winter sows the seeds of the next spring. The current plunge, while weeding out the weak, is also giving the strong a chance to consolidate and grow.

Capital never sleeps—it’s always looking for the most efficient place to go. Today, traditional capital is rushing into the Web3 world on a large scale and systematically through the bridge of acquisitions. This is not just capital flow, but a shift in the logic of the times.

So, instead of being anxious about short-term price fluctuations, it’s better to take a long-term perspective. As Matt Hougan said, this may be an excellent starting point for the future. Because the real drama will unfold in full force once the giants have finished their deployments. #参与创作者认证计划月领$10,000