In a latest version of Pantera’s Blockchain Letter, the top of the digital asset administration agency outlines Dan Morehead’s key quotes from the SALT 2021 convention in New York. In the course of the convention, Morehead mentioned that despite the fact that his firm has vastly profited from BTC, he emphasised that almost all future crypto positive factors will come from altcoin investments.
Morehead compares the rise of Bitcoin and its rivals to that of the tech business increase in the course of the late Nineteen Nineties.
“My perspective is: Bitcoin has been superb – Pantera Bitcoin Fund is up 67,000% since inception. Nonetheless, I believe the vast majority of future positive factors will likely be from tokens outdoors of Bitcoin. I do know that sounds heretical to some individuals right here, however that’s my skilled opinion.”
“It’s like saying in 1998 that majority of future tech positive factors would come from outdoors Microsoft.
On the time, Microsoft was price $218 billion, Apple $3.5 billion, Amazon was $2.2 billion. Google and Fb have been zero – they didn’t even exist. Within the years since Microsoft did nice – it went up 10x. Nonetheless, 80% of the tech positive factors in these 5 shares got here from outdoors Microsoft.
That’s the view I’ve right here – I believe BTC goes to go up a ton – like 10x. It’s an awesome funding… I believe the broader portfolio goes to outperform.”
At time of writing, BTC has a market cap of $1.156 trillion whereas all altcoins mixed have a market cap of $1.327 trillion, based on CoinMarketCap.
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Information Highlights Enterprise
- Bitcoin will considerably underperform the altcoin market as the brand new period of crypto costs unfolds: Dan Morehead of Pantera Capital
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