Dan Morehead, co-founder and CEO of Pantera Capital, said he believes that Bitcoin will experience a serious rise in a few months.
Morehead expects central banks to reduce fiat currencies steadily in response to the coronavirus crisis, and advises investors to look for alternative assets with fixed money supply. Pantera Capital CEO announces devaluation of British pound value as an example
“The British pound was previously silver worth. So much money has been mined that silver is currently worth 184 pounds. You don’t notice, but your money is losing value very quickly. ”
Morehead also pointed out that the US dollar has lost 90% of its purchasing power over the past 70 years.
“When paper money supply increases so fast, you need to switch to an investment tool that they cannot step further; Like gold, like Bitcoin ”
Referring to the investors in his statement, Morehead stated that the world has been in front of this crisis for a few more months and that the investors in the current market are not thinking about new investment assets, but are only concerned about the future and family. However, investors will be looking for new opportunities in the next few months, and Bitcoin will make an incredible rise from three to nine months. Based on my experience for over 35 years, he added that I have a very strong intuition that Bitcoin could reach a record price in the next 12 months.