Matt Hougan Compares Tokenization Boom with Nvidias Early AI Rally
Key Insights:Matt Hougan points to tokenization, S&Ps acquisition of OpenZeppelin, and the rise of DeFi assets as signs of broader onchain adoption.Hougan describes tokenization as a multi-year transformation of how financial markets operate.He compares tokenizations early stage with the AI boom, citing NVIDIAs rise from $16 in 2022 to $219 today. Tokenization took center stage on September 17, 2026, when Bitwise CIO Matt Hougan posted on X that the trend had become impossible to ignore. On the same day, the SEC created a pathway for tokenized stocks to trade in the United States, S&P Global agreed to acquire OpenZeppelin, and DeFi assets moved higher. Hougan wrote that any remaining doubts should now be settled: “The world is moving onchain.” He framed tokenization as a multi-year transformation of finance, not a short-term trade. To illustrate the point, he reached for the early days of the AI boom. ChatGPT launched in November 2022 when NVIDIA traded at $16. One year later, the stock had climbed 176 percent to $46, and the AI megatrend was obvious. Hougan said the right move was not to regret missing out, but to buy more. NVIDIA now trades at $219. The same logic applies to tokenization, he argued. Investors who wish









