Matt Hougan: Bitcoin Is King, but Diversification Is Key

In a recent note to clients, Hougan compared Bitcoin’s dominance to Google’s rise in 2004, arguing that while Bitcoin is “digital gold” and the only asset with real potential to become a globally significant currency, it shouldn’t be the only crypto in a portfolio.

“Bitcoin is the king — largest, most liquid, most established,” Hougan wrote. “But that doesn’t mean it should be the only thing you own.”

He pointed to Ethereum’s strong rebound, up 40% in the past week, as a sign of growing momentum across the altcoin space.

The surge has reignited discussions about diversifying beyond Bitcoin, especially as the crypto market matures and institutional interest expands.

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Hougan’s message is clear: Bitcoin is the foundation, not the whole house.

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