Bitwise CIO "BTC is the king of cryptocurrencies... Portfolio diversification is also essential"

Bitwise Chief Investment Officer (CIO) Matt Hogan, in an investment note, acknowledged Bitcoin (BTC) as the 'king' of the cryptocurrency market while emphasizing the importance of portfolio diversification.

Hogan explained, "Bitcoin is the largest and most liquid, and it has the role of digital gold. It is the only cryptocurrency that can be reborn as a major global currency." However, he said, "Looking back at history, it is very important to diversify your portfolio," citing the example that while Google held the top position among internet-related stocks in 2004, there were many companies that recorded higher growth rates.

He commented, "Like the early days of the internet, blockchain can also be a good strategy for thematic basket investments (diversified investments in various cryptocurrencies)." Hogan added, "We need to reduce stress to pick winners and focus on the bigger picture," indicating that there is a need to pay attention to various projects in the cryptocurrency market as well.

Experts interpret his remarks as advice that, when looking at the long-term growth of the cryptocurrency market, it is necessary to pay attention to other promising blockchain projects beyond just BTC-centered investments.