XRP Gains Support from Bitwise CIO for Community Strength

XRP is once again in the spotlight as Bitwise’s Chief Investment Officer, Matt Hougan, recently commended the digital asset’s thriving community and clarified its role alongside Bitcoin. Speaking after his participation at XRP Las Vegas, Hougan offered notable insights that underscore XRP’s unique position and the enthusiasm surrounding it.

The XRP Las Vegas event drew over 1,000 attendees even during the usually slow Saturday afternoon slot, signaling exceptional interest. Hougan acknowledged the unexpectedly high turnout, considering the event commenced at 1 p.m. ET on a weekend — typically a low-engagement period for conferences. The sheer size of the audience illustrated the strength and unity of the XRP community, a factor that Hougan believes is essential for any successful cryptocurrency project.

In conversations following the event, Hougan addressed a commonly misunderstood topic in the crypto space: the relationship between Bitcoin and XRP. Dispelling outdated comparisons, he emphasized that Bitcoin and XRP are no longer seen as rivals. Instead, there’s growing consensus that each serves a distinct purpose—Bitcoin functions as a digital store of value, often likened to gold, while XRP has positioned itself as a solution for rapid and cost-effective cross-border transactions.

This differentiation is critical, according to Hougan. He stated that both digital assets can thrive independently because they cater to different use cases. As a result, rising adoption of XRP does not encroach on Bitcoin’s value proposition and vice versa.

One of the most important elements contributing to XRP’s sustained momentum is its robust and vocal community. Hougan noted that the XRP ecosystem is composed of more than just investors—it includes developers, advocates, and strategic partners who are all actively working to expand the coin’s use cases. This support system has driven awareness about XRP’s utility in areas such as facilitating real-world payments and enhancing international remittance systems.

The XRP community has also been instrumental in blockchain policy and litigation, particularly in Ripple’s long-standing legal battle with the U.S. Securities and Exchange Commission (SEC). Hougan highlighted the role attorney John Deaton and XRP holders played in Ripple’s partial legal victory in 2023. At the time, Judge Analisa Torres referenced affidavits collected by Deaton to determine that Ripple’s programmatic XRP sales did not classify as securities offerings. This win led to major U.S.-based platforms, including Kraken and Coinbase, re-listing XRP for trading.

That victory wasn’t just a legal milestone—it also reaffirmed the collective power of the XRP community, which has remained a driving force for adoption across policy, business, and technological fronts. Various community-driven efforts are also focused on making XRP a recognized component of the U.S. digital asset stockpile, further emphasizing the asset’s growing strategic importance.

Matt Hougan has been bullish on the future of XRP, especially following a move by Bitwise in October 2024 when the firm made headlines by filing an application with the SEC to launch an XRP-focused Exchange Traded Fund (ETF). At the time, it marked the first formal attempt by a reputable U.S.-based asset manager to introduce such a product. Months later, Hougan reiterated on a public broadcast that the demand for an XRP spot ETF remains strong, sparking optimism that regulatory approval may be on the horizon in 2025.

Related: Expert Advice: Sell XRP If You’re Confused

In summary, Matt Hougan’s remarks spotlight how XRP’s strong community, distinctive utility in financial transactions, and growing institutional appeal are helping cement its place within the broader crypto ecosystem. As public sentiment shifts to recognize that digital assets can coexist and complement one another, XRP appears well-positioned for further growth and integration.