Market Analysis

​Pantera Capital makes a statement about Bitcoin and its meaning for the banks

​Pantera Capital makes a statement about Bitcoin and its meaning for the banks
Aug 16, 2018 by Rico Wise

At Pantera Capital, everyone keeps a positive look at the digital currencies in spite of the ongoing market depreciation. This week, Dan Morehead stated that blockchain innovations are paving the way towards equity evolution, and the digital currencies represent a far better form of currency. He even went as far as to claim that Bitcoin is the biggest disruption of the current generation.

Morehead has been known as an advocate for digital currencies, making statements about the possibility of the digital currency market capitalization one day reaching 40 trillion US dollars. Pantera Capital had previously released statements of the cryptomarket bottoming out and that the time has come to go long on BTC.

The Digital Asset Fund created by Pantera did not ruin its enthusiasm despite its recent performance. The fund has been down by 23.7 percent since December, while BTC has dropped by 20.9 percent.

Now, Morehead believes that the time has arrived to purchase digital currencies in order to better your positions. He also admitted that financiers at Pantera itself do not always adhere to this principle, purchasing the majority of the subscriptions at high prices.

Morehead thinks that now is a good chance to buy currencies because the cryptomarket is very likely to regain its stability and continue growing further.

Going back to Warren Buffet’s statement made in relation to Bitcoin earlier this year, wherein he dubbed BTC currency “rat poison squared”, Morehead said that if so, then the rats are the banks and credit card firms.

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Pantera Capital is an investment firm focused exclusively on ventures, tokens, and projects related to blockchain tech, digital currency, and crypto assets.
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