Why Michaël van de Poppe Sees $100 for HYPE
Speakers
Michaël van de Poppe
— Founder and CIO, MN Capital and MN Fund
Summary
Michaël van de Poppe shares bullish outlooks on Hyperliquid ($100 target), Solana (long-term hold), NEAR, and Bittensor as undervalued AI crypto plays. He avoids Zcash due to regulatory uncertainty and highlights macro signals (yields, Fed) for risk appetite.
- Hyperliquid hitting all-time highs; van de Poppe targets $100.
- Solana preferred for long-term conviction over Hyperliquid.
- NEAR and Bittensor called undervalued AI infrastructure plays.
- Zcash avoided due to regulatory risks and valuation difficulty.
- Macro focus on Japanese yields and Fed policy for next 4-6 weeks.
- Altcoins not dead; selective strong protocols will outperform.
- European traders driving Hyperliquid growth.
- Privacy coins face government pushback; zero-knowledge proofs seen as more viable.
Trade Ideas
Hyperliquid can reach $100 or more.
Hyperliquid is undervalued with low P/E ratios relative to growth, driven by tokenization, ETF inflows, and European trader adoption. Expects HYPE to run to $100 or more, comparing favorably to Solana.
Solana is long-term conviction hold.
Solana is transitioning from DePIN to institutional blockchain and is a strong long-term conviction hold, preferred over Hyperliquid for the long haul.
NEAR is undervalued AI crypto play.
NEAR is an undervalued AI crypto play compared to overhyped AI IPOs. Revenue grew from $10M to $70-100M with buybacks, yet valuation is only ~$1B, offering asymmetric upside.
Bittensor could reach $1,000-$2,000.
Bittensor is an AI infrastructure layer that has dropped 70-80% in price despite ecosystem expansion. Expects a return to fair value at $1,000-$2,000.
Avoid Zcash due to regulatory risks.
Zcash is difficult to value after an 8-9x rally and faces regulatory risks from governments wanting to block fully private transactions. He stays away from investing.
