The CEO of Pantera Capital, a well-known blockchain investment fund, says that the current world growth of cryptocurrency could one day see a $40 trillion market cap. He further pushed this optimism by saying Bitcoin is a “screaming buy”.
Pantera Founder and CEO, Dan Morehead, has been making some noise lately in the cryptocurrency space with a highly optimistic outlook on the future of the market. In a recent interview with Bloomberg he stated that Pantera was extremely bullish on where the market cap was going and gave numbers that caused more than just a few heads to turn.
Morehead said in part,
“We think we’re way below, maybe an order of magnitude — or two — below the real fundamental fair value of blockchain,” he said, stating later that “the industry as a whole is $400 billion. It easily could go to $4 trillion, and $40 trillion is definitely possible.”
While he did say this is likely a decade or so down the line, Morehead said Pantera sees Bitcoin as a huge part of this massive market cap’s future. Right now Pantera has 10% of its assets in Bitcoin which Morehead insisted was a “screaming buy”.
Morehead’s optimistic projections are far higher than that of any other notable expert in the space, however, his overall optimistic outlook is certainly shared by many. For example, Thomas Lee recently came out saying that the bear market was over and that now was the time to buy while values are down, predicting Bitcoin to be a very safe bet. Venture capitalist Tim Draper recently said that Bitcoin would be “bigger than the Internet”. Furthermore, Jack Dorsey of Twitter loves Bitcoin and Jensen Huang of Nvidia says that Bitcoin is not a fad and it is going to be huge.