CEO hedge Fund Pantera Capital Management LP Dan Marched (Dan Morehead) again spoke in support of bitcoins. In the opinion of the investor, with the appearance on the market of bitcoin demonstrates the normal price dynamics and the current state of the market provides an excellent buying opportunity.
“Actually, now is the time to power up their positions,” — said Morgad, adding that clients Pantera often do not follow this rule: the majority is invested in a time when quotes are rising.
The current bearish trend is the seventh largest decline for bitcoin, continued Merged. He believes that in the next 10-12 months the price of BTC will increase significantly.
“It is very likely that now the market has reached its lowest point… In my opinion, it will return to normal.”
Marched also responded to the radical statement of Warren Buffett (Warren Buffett) about BTC:
“It’s really rat poison; just the rats are banks and credit card companies”.
Marched also spoke about the reasons for his positive attitude towards bitcoin and blockchain technology in General. First, consider Marked, mankind is entering the era of post-capitalism: if the earlier value was created by “the rich” who invest in certain companies, now the main generator value, breakthrough technologies that are being developed are not the financial elite.
In this sense, blockchain, said Marked — “missing component” in the structure of the Internet protocols, which will provide a cheap turnover, and bitcoin, in turn, will determine the development of many projects for the real use of the DLT.
In addition, he believes that cryptocurrencies are “most asymmetrical in terms of risk-benefit” investments, because in this case it is impossible to completely lose the invested money. Many investment funds, working with bitcoin, have the potential to increase in price of 25 times, added Marked that it is impossible to imagine in the case of other investment areas.
Finally, Morad stressed that a significant role in the rise of the capitalization of the BTC will play an increasing demand from institutional investors. Investment officer Pantera Lauren Stephanian (Lauren Stephanian) cited the example of Bakkt blockchain-ICE platform for trading physically settled futures on bitcoin.