In a new interview, Matt Hougan, chief investment officer (CIO) of Bitwise Investments, shared his top three cryptocurrencies for 2023. The investment specialist prefers established altcoins over a risky portfolio.
Ideal crypto portfolio according to Matt Hougan
In a new interview with Stansberry Research, Hougan listed Bitcoin (BTC) and Ethereum (ETH) as the “two fast horses” investors should have in their crypto portfolios. The investment expert attributes the reasons for his choice to Bitcoin’s stance in macro conditions:
I think Bitcoin is still an important cryptocurrency, it is the most comfortable asset for institutions to hold. Bitcoin is a safeguard against wrong monetary policies, and I think there are still significant risks associated with these mistakes. We’re seeing a second wave of inflation in Europe that could potentially complicate things in the US. So I think it’s a great hedge for this point of view. I think you will see constant streams into that area.
Hougan would later encounter Bitcoin and Ethereum as investment vehicles. He emphasized the superiority of Ethereum in terms of technological advancements:
I think you should have Bitcoin and Ethereum, two great horses to have in a crypto portfolio today. There is a lot of technological advancement in the Ethereum ecosystem. The number of developers is huge, the cost per transaction is falling very fast, which makes me very excited. That’s why I love what’s going on in Ethereum.
Cosmos (ATOM) was the third pick from BTC and ETH
Cosmos (ATOM), with a focus on scalability and cross-chain communications, is one of the key cryptocurrencies investors should consider, according to Bitwise Investments CIO. Hougan says that Cosmos differs from Ethereum in its architectural features.
Institutional investors prefer leading altcoin project
While Hougan’s choices for his ideal crypto portfolio are Bitcoin, Ethereum, and Cosmos, Ethereum in particular continues to dominate in terms of institutional funds flow. According to the results of CoinShares’ latest Digital Asset Quarterly Fund Managers Survey, 60% of 43 fund managers surveyed with a total of $390 billion in assets managed believe Ethereum has the most promising growth prospects in 2023. .
The survey also found that investment in Bitcoin and Ethereum was consolidated and cryptocurrencies were increasingly included in hedge fund portfolios, rising from 0.7% to 1.1%. The trend to include cryptocurrencies in investment portfolios has been driven by customer demand and speculation. Interestingly, some investors see recent market events as opportunities.
As Kriptokoin.com, we have included the latest weekly fund flow report of CoinShares in this article. Institutional apathy in November and December is starting to reverse again in recent weeks.
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