In a recent interview on the “Making Money with Matt McCall” podcast, Matt Hougan, the Chief Investment Officer of Bitwise Investments, offered his insights on the digital currency market and the assets that investors should consider.
Hougan emphasized the importance of having both Bitcoin (BTC) and Ethereum (ETH) in a portfolio, pointing out that Bitcoin (BTC) is “still a very critical cryptocurrency investment, the investment institutions feel most comfortable holding.” He went on to explain that there is a growing demand for Bitcoin, driven by institutional adoption and the decreasing volatility of the asset.
In the case of Ethereum (ETH), Hougan praised the whole lot of technological progress the ecological system has seen, noting the large number of developers and rapidly decreasing transaction costs. He stated, “I love what’s going on in Ethereum.”
Along with Bitcoin (BTC) and Ethereum (ETH), Hougan recommended seeing as the native crypto token of Cosmos (ATOM), calling it an “interesting crypto altcoin if you wanted to go beyond the big two.” He highlighted the excitement and activity surrounding the investment, saying that it could drive the digital currency market forward in the future.
A recent survey by CoinShares, which states to be “Europe’s largest digital investment financing and trading group,” sought to win insight into the thoughts and actions of professional investors in the digital investment space.
Reports by the results of CoinShares’ latest Digital Investment Quarterly Fund Manager Survey, 60 percent of the 43 fund managers surveyed, who have a combined $390 Billion in assets under management, believe that Ethereum (ETH) has the most promising growth prospects in 2023.
The survey likewise found that financing in Bitcoin (BTC) and Ethereum (ETH) has been consolidated and that digital assets are increasingly being included in hedge fund portfolios, growing from 0.7 percent to 1.1%. The tendency to include digital assets in financing portfolios has been driven by client demand and speculation. Interestingly, some investors view recent market events as opportunities.
And once requested about reasons for not investing in digital assets, the survey revealed a decline in the perceived danger of reputational damage, while regulation remains a concern. The possibility of Government bans has dropped, but dangers related to custody and volatility have risen.
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