The head and founder of the hedge fund Pantera Capital Dan Morehead said in an interview with Bloomberg on Thursday, April 26 that the real aggregate market capitalization kriptovalyut by an order or two above its current level.
In particular, Morehead said:
Unequivocally, we are very optimistic about the crypto-currency sector. We believe that the current cost of blockage is one or two orders of magnitude less than its actual value.
He also noted that "the entire sector is worth $ 400 billion, and the cost can easily grow to $ 4 trillion; even $ 40 trillion. Is by no means a fantastic scenario.
Morehead added:
An asset worth $ 400 billion can not be ignored for a long time.
For market capitalization to reach $ 40 trillion, it should grow by about 10,000% compared to the current level. If the share of bitcoin on the market continues, which, of course, is hardly possible, bitcoin will trade at $ 1 million.
Recently, Pantera released the fourth in its seven-year history of a set of recommendations for trading the main crypto currency, arguing that bitcoin signaled a buy after it fell below its moving average for a period of 200 days. Since then, the price of bitcoin has grown by approximately $ 2,000, bringing investors, who followed the company's advice, a profit of 29%.
Morehead reiterated this recommendation even more emphatically in an interview, noting that bitcoin remained an extremely attractive investment even after his moderate recovery.
In mid-December, the head of Pantera Capital said that at the beginning of the new year, the price of bitcoin could drop by 50% or more, after which the largest of the crypto-currencies entered a long phase of the "bear market", which began to come out quite recently.
Pantera, founded in 2011, now manages assets of approximately $ 1 billion. 10% of these assets are accounted for by bitcoins, and the lion's share belongs to Icon's crypto currency, which is not included in the top twenty in terms of market capitalization.