Matt Hougan, the CIO of leading crypto asset manager Bitwise, recently praised XRP and emphasized the strength of its community.
Hougan shared his views following his appearance at the recently concluded XRP Las Vegas event, where he delivered a keynote address. He later posted photos of attendees from the event.
High Attendance at XRP Las Vegas
According to Hougan, the conference venue was packed with 1,000 people at 1 p.m. (ET) on a Saturday. Typically, events scheduled during early Saturday afternoons tend to draw smaller crowds.
However, Hougan expressed admiration that the XRP Las Vegas venue attracted such a large audience at that time.
Flying home after a brief trip to speak at an XRP conference in Vegas. 1pm on a Saturday and the room was packed (~1000 people). Impressive. pic.twitter.com/1CBgGFU1k0
— Matt Hougan (@Matt_Hougan) May 31, 2025
Bitcoin and XRP Not in Competition
When asked about key takeaways from the conference, the Bitwise CIO noted that crypto enthusiasts are increasingly recognizing that Bitcoin and XRP are not direct competitors.
According to him, people are now embracing the idea that both XRP and Bitcoin serve different markets and that the growth of one does not disrupt the other.
For perspective, while Bitcoin has earned a reputation in the financial world as a store-of-value asset akin to gold, XRP is recognized for its utility in facilitating cross-border settlements.
Because these assets fulfill different roles, Hougan believes the success of one does not threaten the mission of the other.
XRP’s Community is Strong
Hougan also underscored the strength of the XRP community, describing it as a vital pillar for any successful crypto project. The XRP community comprises developers, holders, and advocates who rally behind the coin and promote its adoption.
This vibrant community has remained active across social media platforms, pushing for broader adoption through initiatives related to real-world payments, cross-border remittances, and U.S. digital asset stockpile.
Interestingly, XRP’s community also played a significant role in Ripple’s victory against the U.S. SEC in 2023. Recall that Judge Analisa Torres referenced affidavits from XRP holders–compiled and filed by attorney John Deaton–to declare that Ripple’s programmatic sales on digital exchanges did not constitute securities.
Following this decision, several U.S.-based crypto exchanges, including Kraken and Coinbase, re-listed XRP for trading.
Meanwhile, Hougan has been bullish on XRP since Bitwise filed with the U.S. SEC to launch an ETF tied to the coin. In October 2024, Bitwise became the first asset manager to submit an XRP ETF application with the SEC.
Months after the filing, Hougan said on live TV that there is strong demand for XRP spot ETFs. While the SEC has not approved any spot XRP ETF for launch, many are confident that the product will debut later this year.
