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Bitcoin Is King, But Don’t Ignore the Others, Bitwise CIO Suggest Diversified Crypto Exposure

Bitcoin Is King, But Don’t Ignore the Others: Bitwise CIO Suggest Diversified Crypto Exposure

Samuel Edyme
by Samuel Edyme
4 months ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Bitcoin continues to dominate the digital asset space, maintaining its position as the most established and widely adopted cryptocurrency. However, according to Matt Hougan, Chief Investment Officer at Bitwise Asset Management, investors should consider broadening their exposure to include a variety of crypto assets, especially as blockchains evolve beyond just currency use cases.

Hougan recently commented on Ethereum’s significant price recovery, noting a 53% rebound from its April lows and a 37% increase within a single week.

This performance comes after months of underperformance and coincides with recent blockchain upgrades and a wider shift toward risk-on market conditions. In light of this, Hougan addressed the increasingly common question among investors: is it time to look beyond Bitcoin?

Related Reading: One Crypto Bill Could Make or Break the Market This Summer—Bitwise CIO Explains Why

Crypto as a General Purpose Technology

In drawing comparisons between today’s blockchain market and early internet adoption, Hougan pointed to how investment strategies from the early 2000s offer a relevant historical lesson. He referenced the example of 2004, when Google led the search engine industry and appeared to be the dominant bet on the internet’s future.

While Google became a highly successful investment, Hougan emphasized that other sectors, such as e-commerce (Amazon), video streaming (Netflix), and software-as-a-service (Salesforce), also generated substantial long-term returns.

Applying the same thinking to crypto, Hougan suggested that while Bitcoin may serve as a decentralized monetary system or “digital gold,” other blockchains are designed for broader utility.

Ethereum enables programmable smart contracts, Solana and Avalanche focus on high-throughput performance for decentralized applications, and middleware solutions like Chainlink support infrastructure across multiple networks. Hougan’s view is that these differing purposes present differentiated return profiles, rather than just direct competition.

He also noted that investors do not need to commit to a single crypto thesis. While some may favor Bitcoin solely as a hedge against fiat debasement, others who believe blockchains will transform asset transfer, application deployment, or financial infrastructure may benefit from holding a mix of assets.

This basket approach, he argued, is well-aligned with how general purpose technologies historically produce a range of winners across verticals.

Passive Exposure May Outperform Active Picks

To reinforce his perspective, Hougan pointed to performance data over the last five years for assets like Bitcoin, Ethereum, Solana, and Chainlink—each demonstrating different periods of outperformance. Predicting which will lead through 2030 remains uncertain, and that uncertainty is exactly why he advocates diversification.

Crypto Asset Performance, 2020-2024.
Crypto Asset Performance, 2020-2024. | Source: BitwiseInvestments

He concluded by citing a compelling statistic: over the past two decades, 97% of actively managed equity funds underperformed their benchmarks. For an industry as dynamic and unpredictable as crypto, the implication is that trying to identify individual long-term winners could be more difficult than many expect.

Related Reading: Arizona Governor Hobbs Rejects Two Crypto Bills, Cites Risk Concerns

In summary, while Bitcoin remains the cornerstone of most crypto portfolios, Hougan believes that blockchain’s versatility as a technology calls for broader exposure. His advice to investors: focus less on picking the next breakout asset and more on positioning for the entire crypto ecosystem’s potential.

The global crypto market cap valuation. | Source: TradingView.com
The global digital currency market cap valuation. | Source: TradingView.com

Featured image created with DALL-E, Chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Samuel Edyme

Samuel Edyme

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Edyme is a writer, a content writer that specialises in writing about the crypto realm. Asides Bitcoinist and NewsBTC, Edyme's writing has been featured in top sites such as Blockchain.News, CoinMonk, Blockchain Reporter, Bitcoin Insider among others.

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