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Billions Of People Will Soon Be Using Blockchain Technology: Pantera Capital CEO

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Billions Of People Will Soon Be Using Blockchain Technology: Pantera Capital CEO

Dan Morehead – head of institutional asset manager Pantera Capital – thinks there could be many troubled financial sectors in the coming years, but the digital asset industry won’t be one of them.

Similar to his previous statements, the executive argued that a crypto bull market is on the way, while blockchain technology will be used by billions of individuals in the coming years.

Bullish as usual

In a interview for CNBC, Morehead opined that cryptocurrencies will become very popular in the near future due to the benefits they could bring to the monetary network.

“The important thing to keep in mind is that crypto is such a disruptive thing that is going to change so many aspects of our lives over the next decade,” he said.

Furthermore, the CEO of Pantera Capital predicted that billions of consumers will use blockchain technology in the coming years, which could drive up the prices of digital assets:

“I can see a world in a few years where risky assets might still be struggling, but blockchain will return to all-time highs based on its own fundamentals.

Hundreds of millions of people are using blockchain today, but I think in four to five years it will 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.”

Dan Morehead
Dan Morehead, Source: CNBC

It should be noted that some of Morehead’s previous predictions were quite accurate. In March 2020, he claims that bitcoin’s valuation will set a new all-time high in the next 12 months. Exactly one year after its declaration, BTC sharp over $60,000.

Yet, at the end of the interview, Morehead argued that people are paying too much attention to the primary digital asset when many other cryptocurrency protocols are equally important.

“We are all used to using bitcoin as a proxy for blockchain, there are hundreds of really interesting projects out there.”

The rally is coming soon

Earlier this month, the American attach a similar position, reminding that the market has survived declines before and will also overcome ongoing declines.

According to him, the price of bitcoin will continue to climb about 2.5 times a year, while some alternative coins may exceed its development time:

“Bitcoin isn’t everything anymore. There was a time when bitcoin was 100% of the market, and for a while Bitcoin and Ethereum were basically everything. Now there are lots and lots of really big projects, and you You’ve seen bitcoin rally a bit, but the real story is that projects other than bitcoin and ethereum rally more.

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