Billions of People to Drift Into Blockchain Tech Soon: Pantera Capital CEO:
Dan Morehead – CEO of Pantera Capital – feels that the digital assets industry will stand the test of times unlike other financial sectors in the years to come.
As in his formal statement, the executive is still optimistic about a new crypto bull run, while blockchain technology will be employed by billions of individuals in the years to come.
In an interview for CNBC, the blockchain proponent opined that cryptocurrencies will become highly popular in the near future due to the utilities they could provide to the monetary network.
“The important thing to keep in mind is crypto is such a disruptive thing that’s going to change so many aspects of our lives in the next decade,” he said.
In addition, Pantera Capital’s CEO envisioned that billions of consumers will drift into blockchain technology in the long run, which could boost the prices 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.”
Just to be frank, some of Morehead’s previous forecasts have been quite accurate.
In March 2020, he envisioned that bitcoin’s valuation will set a new record in the following 12 months.
Exactly one year after his statement, BTC spiked to about $60,000.
Meanwhile, Morehead argued that people pay too much attention to the primary digital asset (Bitcoin) when there are numerous other cryptocurrency protocols with brilliant utilities.
“We all are used to using bitcoin as a proxy for blockchain, there are hundreds of really interesting projects.”
Will crypto market survive the current drop-downs?
For the people wondering if the crypto market could survive the current winter, the American virtualized a similar position, reminding people that the market has survived declines before and will overcome the ongoing, too.
Finally, in Morehead’s view, bitcoin’s price will continue soaring by approximately 2.5x per year, while some alternative coins might surpass its temps of development:
“Bitcoin is no longer everything. There was a time bitcoin was 100% of the market, and for a while, Bitcoin and Ethereum were essentially everything. Now there are many, many really important projects, and you’ve seen bitcoin rally a bit, but the real story is projects other than Bitcoin and Ethereum that rally more.”