Dan Morehead, CEO of Pantera Capital, suggested that the DeFi domain will outperform Bitcoin in the next five years.
Dan Morehead, CEO of Pentera Capital, one of the largest investment companies in the cryptocurrency space with half a billion dollars in assets under its management, claimed that DeFi has the potential to grow 100 times more than Bitcoin in the next five years.
In an interview with Cointelegraph, Morehead stated that despite the weak performance of his company’s altcoin funds in 2019, the situation has been reversed in the past few months due to the explosive growth of decentralized (DeFi) finance protocols and tokens. Morehead stated that as of the end of August, Pantera’s digital asset fund has been at 123 percent profit since the beginning of the year, “The world woke up to DeFi and this area has flowed.” said.
Defending that Bitcoin has already identified itself as digital gold and an effective store of value, the CEO emphasized that its upward potential is relatively limited. “Maybe the price could go up to a million, but that’s really the limit of its possibility, because the market value of Bitcoin thus reaches a figure of $ 20 trillion in the whole world currency, which is just $ 100 trillion.” used the expressions.
DeFi’s potential is underestimated
According to Morehead, DeFi is still in its infancy and is greatly underestimated given its potential to fundamentally change the traditional financial sector. “It is very likely that the entire DeFi space will increase 100 times more than Bitcoin in the next five years,” Morehead said. He spoke in the form.
Pantera Capital has been in the cryptocurrency industry since 2013. The company’s Bitcoin fund reached an extraordinary 22,000 percent return when the price reached $ 20,000 in 2017.