Pantera Capital CEO Predicts Bitcoin’s Growth
Dan Morehead, the CEO of Pantera Capital, believes that Bitcoin’s lackluster performance over the past two years is just a temporary setback. In an interview with CNBC, Morehead expresses his confidence that BTC will soon resume its explosive price gains.
According to Morehead, Bitcoin has historically exhibited a 14-year trend growth rate of 145% per year. He expects this growth trajectory to continue, with Bitcoin more than doubling in value each year.
Bitcoin in a Secular Bull Market
Morehead argues that the blockchain sector is currently experiencing a “20-year secular bull market.” He predicts that Bitcoin’s upward trajectory will eventually stabilize once it becomes widely owned by individuals.
In terms of other investment options, Morehead believes that equities are overvalued, real estate is on the decline from all-time highs, and bonds are risky. He suggests that institutions should increase their exposure to blockchain assets, which he considers to be a trillion-dollar asset class.
Bitcoin’s Current Price
As of now, Bitcoin is trading at $27,434, showing a decrease of nearly 1.5% in the past 24 hours.
Hot Take: Bitcoin Set for Continued Growth
Dan Morehead, CEO of Pantera Capital, is optimistic about the future of Bitcoin. Despite its recent lackluster performance, Morehead believes that the top cryptocurrency will resume its explosive price gains. With a historical growth rate of 145% per year and being part of a long-term bullish market, Morehead expects Bitcoin to continue doubling in value annually. While other asset classes may face challenges and risks, Morehead suggests that institutions should consider increasing their exposure to the trillion-dollar asset class of blockchain. As Bitcoin’s price currently hovers around $27,434, the crypto market eagerly awaits its next move.
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