Popular crypto investment firm Bitwise Asset Management maintains a mostly bullish outlook on the crypto market as of late 2025, with particular emphasis on Bitcoin (BTC), Ethereum (ETH), XRP, and Uniswap’s UNI token.
This bullish stance has persisted despite the current extreme volatility, with BTC prices falling to the $85,000 range and major alternative currencies such as ETH, XRP, and even SOL struggling to protect the gains made this year.
Bitwise is betting big on these 4 crypto tokens
There is no doubt that the market was in a bearish phase for the first six months of this year, based on recent tweets from Bitwise executives such as Matt Hogan and Hunter Horsley. But they say things are becoming green again.
The bullish momentum they say could be driven by factors such as ETF inflows, whale movements, and technical indicators.
Earlier this year, Hogan, Bitwise’s chief investment officer, predicted that BTC could rise to $200,000 by Q3 2029, with a short-term bottom based on the ETF’s cost basis around $73,000 to $84,000.
That stance has not changed even now. According to a recent thread shared on X, Hogan believes his bullish stance will take hold as regulatory clarity increases and the market matures further.
In the thread, Hogan highlighted several alternatives that he hinted were poised to explode because they had gotten better at capturing value. Alternative assets include ETH, UNI, and XRP. All of these assets were created in a regulatory era where capturing value was risky, forcing them to default to design choices with ambiguous governance styles.
Hogan hinted to X that the regulatory environment has since changed, eliminating the need for such a choice.
He started with UNI, emphasizing that its status as a governance token had always limited it, especially since the activity on Uniswap did not bring benefits to UNI token holders. This situation could change soon if Uniswap implements the expected fee switching option. As a result, 16% of transaction fees will be allocated to burning UNI.
“I think this will move UNI towards becoming one of the top 10 tokens by market cap over time,” Hogan said. I wrote.
He then moved on to ETH, specifically citing the upcoming Fusaka upgrade that will introduce minimum fees for data recording from layer 2. “Along with other significant changes, blockchain has the potential to capture 5 to 10 times more revenue,” Hogan surmised.
As for XRP, Hogan noted that its community of holders is currently looking at ways to increase value capture and staking, which have emerged in discussions. Hogan believes that if that happens, it could change the economic landscape for token holders.
Hogan believes these are just the beginning, and that the value capture of alternatives will only increase from here.
Bitwise CEO still buying BTC
Hunter Horsley, CEO of Bitwise, who is a big believer in BTC, said he sees BTC’s retreat to the $85,000 level as a buying opportunity.
In a post shared by X on November 23rd, he revealed that he couldn’t resist the $85,000 price and bought more Bitcoin. “It felt good,” he said. I wrote. This post cites an old post from 4 days ago, where he revealed that he couldn’t resist buying for $89,000 and also bought more BTC.
In another post he shared on the same day, Mr. Hogan hinted that BTC could bottom out soon, and since timing such a bottom is difficult, the other better alternative is to buy the token at a price that feels cheap, and that is what he is doing with BTC.
“A lot of things look cheap now,” he says. Posted With X.
A quick scan of Mr. Horsley’s recent tweets confirms that he is putting his money where his mouth is. Like Hogan, who predicted that BTC could rise to $200,000 by the third quarter of 2029, Horsley sees a bright future not just for BTC but for cryptocurrencies as a whole.
“It’s going to be more than just digital gold,” he says. I wrote In one post. That particular post came after he posted about the ongoing evolution of cryptocurrencies.
“A few years ago, ‘digital gold’ was all that mainstream investors considered,” he says. I wrote. “Now people have accepted that it’s ‘digital gold’ + ‘stablecoins’ + ‘tokenization.’”
He added, “In a few years, they will realize that it’s digital gold + stablecoins + tokenization + prediction markets + DeFi + digital identity + privacy + DePin + capital raising + decentralized AI, etc.”
