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Bitwise Chief Investment Officer Matt Hougan revealed four cryptocurrencies he believes should be held while the bear market continues: Bitcoin ($BTC), Ethereum (ETH), Solana (SOL), and Chainlink ($LINK).
Speaking on the When Shift Happens podcast, Bitwise CIO Hougan also explained why he chose these cryptocurrencies.
Hougan, who opened a bearish headline for Bitcoin and Chainlink, said the following:
1) Bitcoin ($BTC):
Despite the declines, Hougan said Bitcoin was the single clear winner.
However, despite Bitcoin’s success and distinctiveness, Hougan suggests creating a portfolio rather than investing in a single winner.
Hougan said that markets are currently pricing in a roughly 0% probability of actively buying Bitcoin beyond the assets seized by the US government. However, he estimates this probability to be between 10-25%.
“If the US were to buy Bitcoin, I think the price would jump almost instantly to half a million dollars or more.”
2) Chainlink ($LINK):
Hougan’s most interesting altcoin choice appears to be Chainlink. Hougan’s argument for $LINK rests on a single point: “If stablecoins and tokenization grow as expected, oracles will become the core infrastructure, and Chainlink will dominate this market.”
At this point, Hougan believes that tokenization alone represents a much greater opportunity than stablecoins.
Finally, Hougan added that he also sees opportunities in Ethereum and Solana.
*This is not investment advice.
coindesk.com
