Dan Morehead, CEO of cryptocurrency hedge fund Pantera Capital, spoke about the prospects for bitcoin and the cryptocurrency space in general during his speech on Bloomberg Television. Morehead expects bitcoin to demonstrate high returns in 2018 year and back to the highs of the end last year in the next 12 months.
Pantera Capital CEO: Bitcoin just screams to buy
Morehead recently made the fourth buy recommendation for bitcoin ever since he has been trading cryptocurrencies, and Pantera issued an investor appeal calling $ 6,500 the final minimum for cryptocurrencies. Since the publication of these forecasts, the rate has risen by $ 2,000, but Morehead claims that bitcoin continues to “scream buy”.
IN during the interview Morehead spoke about how the cryptocurrency space is changing. By to him, bitcoin washed away from its “dirty” reputation, which allowed to attract interest institutional investors and raise the price.
“Of course, we are extremely optimistic about this space. We believe we are much lower, perhaps an order of magnitude or two, below the fundamental fair value of blockchain, an industry that is collectively valued at $ 400 billion. may grow up to $ 4 trillion, and maybe up to $ 40 trillion, “he said.
In mid-December, when Bitcoin was trading near its current all-time high, Morehead announced that the cryptocurrency could lose half of its value at the start of the new year..
Pantera Capital manages assets worth $ 1 billion, of which 10% is placed in bitcoin. Answering the question on the distribution of the fund’s funds, Morehead said that they hold the largest position in the Korean ICON project. The statement surprised the interviewer, who seemed to have no idea about the project..
ICON is developing an ecosystem that will combine different blockchains and will allow you to create solutions that cannot be implemented in any of the existing blockchains separately..
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