Pantera Capital, a blockchain investment firm, believes in the future of cryptocurrency and mainly in Bitcoin. According to Dan Morehead, CEO of Pantera Capital, Bitcoin will reach $ 67,500 in 2019.
In 2013 Morehead made such a statement in which he predicted that the adoption of the cryptocurrency will sooner or later increase and that the price will rise.
Morehead compared Bitcoin with Microsoft in 2013. At the very beginning of Microsoft, investors were also skeptical about purchasing Microsoft shares:
In my opinion, it looks like buying Microsoft, at the time for $ 0.20 per share. It was already difficult when the price was $ 0.10 per share. In retrospect, it was clearly good trade. I think Bitcoin is exactly like that.
In a previous interview, Morehead advised investors to look at the big picture if they plan to invest in cryptocurrency. According to the CEO, it is always important to invest in more than one capital. This avoids repetition of the 1990s, where many invested in Yahoo but ignored Google, Amazon and Facebook.
Morehead is convinced that Bitcoin will reach $ 21,000 this year and $ 67,500 in 2019. He states that this increase will be partly due to the launch of Bitcoin futures trading by CME and CBOE, which will ensure that many institutions will adopt the digital currency.
Dan Morehead hooks on the Bitcoin equation with gold:
I was talking to an investor about Bitcoin yesterday and he answered somewhat disapprovingly: it's like buying gold. No, I said, it is like buying gold in 1000 BC. 99% of the financial world still has to come into contact with Bitcoin. Once they do that, Bitcoin will be worth $ 5,000 or nothing.
Tom Lee, co-founder of Fundstrat Global, also believes in an increase in Bitcoin before the end of 2018. He predicts that Bitcoin will get $ 25,000 before the year is over.