The digital asset market won’t be one of the many financially challenged sectors in the years to come, according to Pantera Capital’s Dan Morehead, Head of Institutional Asset Management.
The executive asserted, in line with his earlier claims, that a bull market in cryptocurrencies is imminent and that, in the years to come, billions of people will use blockchain technology.
Morehead predicted that cryptocurrencies will be quite popular in the near future because to the benefits they might offer to the financial system in an interview with CNBC.
The crucial point to remember is that, over the course of the next ten years, crypto will fundamentally alter many facets of our lives.
Additionally, according to the CEO of Pantera Capital, billions of customers will use blockchain technology in the next years, which might drive up the cost of digital assets:
“I envision a scenario in which risk assets may still be in trouble a few years from now, but blockchain will have recovered to all-time highs on the basis of 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.”
It’s important to note that some of Morehead’s earlier predictions have proven to be very correct. He predicted that bitcoin’s value would reach a new high in the coming year in March 2020. BTC reached its peak price of more over $60,000 exactly one year after his statement.
However, Morehead emphasized at the conclusion of the interview that many other cryptocurrency protocols are just as significant and that people tend to focus too much on the main digital asset.
“We all are used to using bitcoin as a proxy for blockchain, there are hundreds of really interesting projects.”
