The chief investment officer of Bitwise Asset Management is naming the altcoins that are set to explode as investors venture outside of Bitcoin (BTC).
In a new interview with Bloomberg Technology’s Emily Chang, Matt Hougan says he is bullish on Ethereum (ETH), Solana (SOL) and Polygon (MATIC).
“I think we’re going to see this sort of Cambrian explosion of activity built on Ethereum and other Layer 1 solutions.
I think investors are going to be looking at Ethereum, they’re going to be looking at Solana, they’re going to be looking at Polygon.”
Hougan says that Bitcoin investors are now looking beyond the flagship cryptocurrency.
“We’re seeing a lot of investors who put their ton in the water with Bitcoin in 2020, 2021 starting to realize there’s more to crypto than just Bitcoin. If there’s one biggest story for next year, it’s going to be everything else.
It’s going to be crypto as decentralized finance (DeFi), crypto as non-fungible tokens (NFTs), crypto as web 3.0, crypto as the metaverse. That’s what we’re hearing from investors.
What is there beyond Bitcoin? That’s what I’m most bullish about for 2022.”
If he has to choose between Bitcoin and Ethereum, the executive says he is rooting for the second-largest cryptocurrency.
“I’m on the Ethereum side…
I love all my children equally but if you pin me down, Ethereum was the asset of the year.
This year, I have a reasonable degree of confidence that it will continue to play that in the future.
There’s just so much positive activity taking place in and around that blockchain right now.”
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