Optimistic Predictions for Bitcoin’s Future
Dan Morehead, the founder of Pantera Capital, recently appeared on the Unchained podcast, dropping some serious predictions for Bitcoin’s trajectory. He confidently stated that Bitcoin (BTC) could skyrocket to $42,000 by the end of 2019, and could potentially leap all the way to $356,000 by 2022. As he puts it, that’s just the tip of the iceberg!
Logarithmic Growth Explained
Morehead backed his bold claims by referencing Bitcoin’s historical logarithmic growth rate, which he argues will continue at an impressive 235% annual compound growth rate. He said, “Graph the price of Bitcoin logarithmically […] it’s going to grow.” Yes, Dan, we’re all for graphing! It’s like showing your work in math class, only this time, it could lead to a serious surge in dollar signs.
Technological Advances on the Horizon
But wait, there’s more! Morehead discussed the ongoing technological developments in the Bitcoin network that he believes will significantly enhance the number of transactions per second. If Bitcoin can finally get its act together in this department, we might just see that $42K marker in no time. Imagine calling your grandma about Bitcoin transactions and actually getting a response instead of a vague “Is this thing working?” feel.
Bearish on Altcoins, Bullish on Bitcoin ETF
While he waxed lyrical about Bitcoin, Morehead didn’t have much love for altcoins, suggesting their futures might not be so bright. “Most altcoins will fail,” he said, adding a side of sarcasm with, “But hey, thousands of decentralized applications could emerge from the few that make it!” When it comes to Bitcoin exchange-traded funds (ETFs), he compared the wait to getting served at a pizza joint; it feels like forever! History showed him that copper’s ETF approval took three years, and it’s only been around for, you know, 10,000 years!
Pantera Capital: A Pioneer in Crypto Investment
Beyond predictions and skepticism, Pantera Capital is making literal moves in the crypto space; they recently led a funding round for a decentralized exchange startup called Sparkswap. As an investment firm focused solely on blockchain and crypto-related ventures, they’re essentially the cool kids on the block — the first U.S.-based Bitcoin investment firm founded back in 2013. They’ve stuck around long enough to know the trends, or at least how to throw a good bash on the blockchain.
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