Key Takeaways Hougan recently told investors to own bitcoin for debasement, Zcash for privacy and tokenization plays. Zcash crossed $1,000 the same day, and Grayscale’s ZCSH ETF has grown to $414.7 million since Aug. 25. Hougan has argued since December that bitcoin will break its four-year cycle and set new highs in 2026. Three Stories, One Portfolio Matt Hougan isn’t typically one to pick individual assets, as the Bitwise chief investment officer spends most of his airtime on structure, be it exchange-traded funds (ETFs), financial advisors, or regulation. However, in a recent interview, he decided to name names. His list: …