Bitwise CIO Highlights Key Crypto Picks in Bear Market
Matt Hogan, Chief Investment Officer at Bitwise, has zeroed in on four key crypto assets for this market cycle: Bitcoin, Ethereum, Solana, and Chainlink. His insights are particularly noteworthy as the cryptocurrency sector faces a downturn, with Bitcoin trading over 40% below its all-time high reached in October 2025. Bitwise, managing more than $15 billion in client assets, is already engaging with central banks about its digital asset plans.
On his podcast, “When Shift Happens,” Hogan delved into the individual reasoning behind his selections instead of relying on broad market trends.
Bitcoin: Hogan’s Top Crypto Choice
According to Hogan, Bitcoin stands out as the definitive victor among cryptocurrencies.
“I am confident that Bitcoin will win in the digital gold store of valuable financial assets. I think that game is over and Bitcoin has won,” he commented.
For other categories such as smart contract platforms, where Ethereum, Solana, and Avalanche compete, Hogan suggests taking a diverse approach rather than hoping for one standout winner.
Possible Sovereign Bitcoin Purchases
One surprising aspect of Hogan’s analysis was his perspective on potential sovereign purchases of Bitcoin. He noted that the market seems to anticipate nearly a 0% chance of the U.S. government actively buying Bitcoin beyond what it has confiscated. Hogan, however, estimates the likelihood at about 10-25%.
“If that happens, I think the price will go over $500,000 almost immediately,” he stated.
Bitwise is already in discussions with central banks. Sovereign funds from Abu Dhabi and Luxembourg are reportedly making moves in this direction. Despite the genuine nature of this process, the crypto market often minimizes its significance and operates at a pace dictated by central banks.
Chainlink: A Potential Dark Horse for 2026
Hogan’s choice of Chainlink may be particularly intriguing. His reasoning hinges on a key premise: if stablecoins and tokenization develop as anticipated, oracles will become vital, with Chainlink likely leading the market.
“There’s $100 trillion in stocks. There’s even more in bonds. There’s even more in real estate,” Hogan remarked, emphasizing that the potential for tokenization surpasses just stablecoins.
Major institutions, including NYSE, NASDAQ, BlackRock, and Goldman Sachs, have indicated a shift towards blockchain infrastructure. Hogan likened the present situation to the early adoption of ETFs, which many skeptics underestimated.
In January 2026, Bitwise launched its own Chainlink ETF (CLNK) on NYSE Arca, which is anticipated to act as a future catalyst for LINK prices.
