Dan Morehead, the CEO of Pantera Capital, believes there will be other troubled financial sectors in the future, but not the digital asset business.
The CEO maintained, similar to his prior views, that a crypto bull market is imminent and that blockchain technology would be employed by billions of people in the next few years.
Optimistic as Usual
In an interview, Morehead predicted that cryptocurrencies would gain immense popularity soon due to the benefits they may offer to the monetary system.
He highlighted that crypto is disruptive and will alter many facets of our life over the next decade.
In addition, the CEO predicted that billions of users would adopt blockchain technology in the following years, which might lead to an increase in the value of digital assets:
“I can see a world a few years from now where risk assets might still be struggling, but blockchain will be back to all-time highs based on its own fundamentals.
Hundreds of millions of people use blockchain today, but I think in four-five years, it’s going to be literally billions of people, and if you have a billion people, they want to buy a fixed number of coins, so prices will probably go up.”
Dan Morehead, Source: CNBC
Notably, a few of Morehead’s earlier predictions have been correct. In March 2020, he predicted that bitcoin’s value would reach a new high within the next year. Exact one year after his comment, the price of Bitcoin peaked at over $60,000
However, near the conversation’s conclusion, Morehead claimed that people pay too much attention to the major digital asset, even though various other cryptocurrency protocols are equally essential.
We are all accustomed to using bitcoin as a stand-in for blockchain, and there are hundreds of really intriguing projects.
The Rally Will Soon Arrive
Earlier this month, the American showed a similar stance, noting that the market has withstood dips in the past and will do so again.
According to him, the bitcoin price will continue to increase by around 2.5x yearly, while other coins may outpace it.
Bitcoin is no longer indispensable. At one point, bitcoin comprised the entirety of the market, and Bitcoin and Ethereum were virtually everything for a moment. There are many significant projects, and Bitcoin has climbed a bit. Still, the true story is that projects other than Bitcoin and Ethereum are rallying more.
