Throughout a current look on CNBC, Dan Morehead, chief government officer at US-based cryptocurrency fund Pantera Capital, predicted that the worth of Bitcoin may probably surge to as excessive as $750,000 inside the subsequent 4 years.
Morehead will not be positive when BTC will be capable to hit the oft-repeated $1 million goal, however he’s sure that this can finally occur throughout his lifetime.
Morehead has recalled that Pantera Capital was really the very first Bitcoin fund on this planet. “That was the best approach to get entry then. Now, an ETF may be very simple,” he mentioned.
Notably, Panteral Capital’s first worth goal for Bitcoin was $5,000. It was introduced again in 2013 when the most important cryptocurrency was buying and selling at simply $104.
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Pantera Capital first predicted that Bitcoin may hit $740,000 final yr. The agency initially noticed the cryptocurrency reaching this goal in 2028, however it additionally cautioned that such a prediction could be too optimistic.
Ethereum vs. Solana
Morehead has famous that Solana has been among the many best-performing main currencies, and the agency at the moment has its largest place within the high-flying altcoin.
“It is really had higher efficiency than even Bitcoin during the last 4 years,” he famous.
He has famous that Solana is able to doing roughly 9 billion transitions per day, which is greater than your complete capital markets.
Nevertheless, he’s satisfied that there isn’t any “winner-take-all” mentality in crypto, noting that there have been really a whole lot of winners within the age of the web.
With that mentioned, he believes that there’s solely a single digit of layer-1s, together with Ethereum and Solana, that can be capable to survive in the long run.