The head of Pantera Capital Dan Morehead believes that the fall of bitcoin will soon be replaced by growth, and current state of the market allows eyestorm to open positions at probably the cheapest prices this year. This opinion he expressed in the course of the cryptocurrency conference.
“Now is the time to increase positions in the cryptocurrency market”.
He added that bitcoin is the most disruptive technology that caught his generation, and cryptocurrencies in General are the final stage in the development of money.
Morehead also remembered that bitcoin collapses already 7 times, but this was always followed by explosive growth.
“Most likely, at the moment we are seeing minimal price values industry of cryptocurrency. I believe that the market will soon unfold and will follow its usual trend.”
In his speech he remembered the words of the legendary investor Warren buffet that bitcoin is rat poison in the square.
“It’s really rat poison. That’s just poison it will be the rats in the face of banks and credit organizations”.
Note that the predictions of Morehead is not always accurate: informed his company in his newsletter to investors said that the $6500 is the minimum for bitcoin, below which it will not fall.
Fund Pantera Capital within 5 years of its existence has received more than 10000% profit, and the Morehead actively encouraged to buy bitcoin back in 2013 when he was worth $100.
Fund Pantera Capital has assets of $1 billion, of which $100 million are in bitcoin. However, this is not the largest position in the Fund’s portfolio — Morehead announced that their largest bet is placed on the coin ICON.