Pantera Capital, which is one of the leading investment firms in the crypto space, seems to have an optimistic look at cryptocurrencies despite the current market downturn.
As the CEO and chief investment officer at the firm Dan Morehead stated during a digital asset funds conference this Tuesday, blockchains are the next step in the evolution of equity. In that way, cryptocurrencies are a superior form of currency.
Morehead also called Bitcoin “the biggest disruption of this generation”. As a well-known optimist who stated that the combined crypto market cap could climb to $40 trillion one day, he also pointed out some statements towards the regulation and adoption of cryptocurrencies by banks.
He addressed his thoughts in the same way as Warren Buffett did earlier this year, noting the ‘rat poison squared’ rumor about Bitcoin, stating:
“It is rat poison; it’s just the banks and credit card companies are the rats.”
When asked if now is a good time to buy crypto, Morehead stated:
“That’s actually a good time to increase your position. It is highly likely to be the low point for the industry. My normal view is that it is going to return to its trend”
Morehead remains positive and optimistic about the long-term scenario of blockchain technology and cryptocurrency. As he said, blockchains are the “final piece” of the protocol structure that describes the Internet – and a way to move funds without paying high fees.
Bitcoin, according to him, is not a category killer but a “serial killer” which means that it will affect many different use cases.
“I think we’re heading towards a post-capitalist era. Now, we’re going to have ‘cooperatively owned’ technologies that are very valuable.” Morehead concluded.
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