Hougan on Ethereum and Solana Valuation Models: Own Both or Neither

Bitwise chief investment officer (CIO) Matt Hougan discussed the valuation models of Ethereum and Solana, saying it's 'indeterminate' which approach will prevail. He noted that Ethereum positions itself as a monetary asset while Solana focuses on revenue generation.

Hougan said it's an open question whether Ethereum's monetary positioning or Solana's revenue-driven positioning will prove more valuable. Instead of picking between the two, he recommends owning both assets.

In an interview with The Rollup, Hougan and head of research Ryan Rasmussen went over on an $8,000 ETH price target by 2030. They also discussed a Bitcoin target of $180,000 by 2030, but cautioned against setting bullish price targets for every crypto asset.

Interest in Ethereum is growing due to stablecoins and tokenization, with the starting point remaining Bitcoin. Hougan's comments come after a memo published earlier this month arguing that crypto valuations outside of Bitcoin can double or more as protocols capture revenue through buybacks and burns.