Bitwise CEO Hunter Horsley said the cryptocurrency industry is undergoing a transition in which fewer projects are likely to emerge as long-term winners, with success increasingly tied to demonstrated value and execution.
According to Foresight News, Horsley wrote on X that the crypto market’s current shift resembles the internet era of the 1990s and early 2000s.
He said that during the 1990s, when the internet was still new, many ideas appeared viable and hundreds of companies received valuations of $500 million to $1 billion based largely on perceived future potential. Horsley added that this optimism broke down in the early 2000s, when markets became less willing to support large numbers of companies based on narrative alone.
He said that, in that period, a smaller group of companies that proved their value and business models began to stand out. Horsley argued that because their success was built on verifiable results, their growth cycles lasted longer and their scale ultimately exceeded that of firms from the prior bubble.
Horsley said crypto is now experiencing a similar change, predicting that future winners will be fewer but will succeed through proven real-world value and capabilities. He added that these winners may become larger and grow for longer than most people expect.
Bitwise CEO Hunter Horsley Says Crypto Is Shifting From Hype to Proven Value
2026-06-21 05:33:41
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
日本国民商企年金基金拟于2026财年配置加密资产
