The Milk Road Show

Crypto Is Crashing… Why the Bull Case Is Still Alive w/ Matt Hougan & Ryan Rasmussen

14 snips
Nov 20, 2025
Matt Hougan, an executive at Bitwise and crypto strategist, alongside Ryan Rasmussen, an investment professional at Bitwise, delve into the current crypto market crash. They discuss why institutional investors are actively buying amidst uncertainty and clarify the disconnect between retail selling and institutional buying. Their insights explore emerging crypto use cases, the importance of time horizons for investment, and the potential impacts of macroeconomic factors. They also highlight the significance of the upcoming Bitwise XRP ETF launch.
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ANECDOTE

What They Grab In A Crash

  • Ryan Rasmussen says his instinct in a market crash is to buy Bitcoin and some Solana.
  • He frames Solana as particularly beaten up and attractive during dips.
INSIGHT

Bears Kill The Hottest Buzzwords

  • Bear markets systematically 'kill' that cycle's hottest buzzwords until they're exhausted.
  • Matt Hougan says DeFi looping and basis trades are current buzzwords being dismantled.
INSIGHT

Coinbase Could Restart Healthy ICOs

  • A regulated, Coinbase-style ICO platform can revive capital formation with legitimacy.
  • Matt Hougan expects a rebirth of ICOs and many new token-based projects as regulation eases.
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