A new viral thread from Bitwise CIO Matt Hougan has sparked fresh excitement around Solana. Hougan explains why Solana may be one of the most asymmetric bets in crypto – offering not just one, but two major ways to win.
His analysis compares Solana’s upside to Bitcoin’s long-term growth scenario. And the numbers he lays out are eye-opening.
Hougan starts by clarifying why Bitcoin has been such a strong investment. When investors buy BTC, they are effectively making two simultaneous bets: that the global store-of-value market keeps growing, and that Bitcoin continues to claim a bigger share of it. Even if only one of those plays out, BTC holders can still win.
He then applies that same logic to Solana.
What Makes Solana a Two-Way Winner
Hougan argues that Solana sits at the center of another massive and fast-rising market: stablecoins and tokenized financial infrastructure.
1/ The best crypto investments give you two ways to win. A thread exploring one reason I’m so bullish on Solana.
— Matt Hougan (@Matt_Hougan) October 30, 2025
🧵
It’s a segment currently led by Ethereum, but Solana is gaining ground as a top challenger thanks to its high-speed design, low fees, and rapidly expanding developer and user community.
When investing in SOL, Hougan says there are again two upside paths working together:
• The stablecoin/tokenization market grows massively
• Solana takes a larger share of that market
Even if just one happens, the payoff could be significant. If both happen, Hougan calls the upside “explosive.”
He also highlights a major credibility boost this week: Western Union selected Solana to build its stablecoin – a strong sign that big players are already tapping into Solana’s infrastructure.
Although Ethereum still holds the lead in institutional adoption, Solana’s momentum has accelerated throughout 2025. Hougan believes many underestimate how quickly tokenization and digitally native dollars will reshape markets, predicting potential 10x sector growth.
As Solana matures and proves its resilience, the gap with ETH could shrink dramatically – especially if the user experience remains smoother and faster on Solana’s rails.
Read also: Solana’s First U.S. Spot ETF Launches With Strong Demand on Day One
What This Means for SOL Price
If Bitcoin can reach a hypothetical $6.5 million per coin simply by gaining market share in a fast-growing market, Hougan argues Solana could follow a similar trajectory in its own sector.
That doesn’t mean SOL reaches BTC-style valuations. But it means the same math applies:
Bigger market × Bigger market share = Massive long-term upside
Hougan stresses humility – no one truly knows how the industry evolves. But combining high-conviction theses into a single asset can stack probabilities in an investor’s favor.
His message is simple: Solana doesn’t need to dominate the entire crypto economy to succeed. It just needs to keep doing what it’s already doing – growing usage, winning integrations, and expanding its role in a market that is poised to be far larger in the future.
If Solana’s story continues at this pace, many investors may look back and realize the smart money saw this coming while the rest of the market hesitated. Before anything else, the Solana price needs to break its previous all-time high of around $294 which is roughly 40% below current levels.
Subscribe to our YouTube channel for daily crypto updates, market insights, and expert analysis.
