According to Dan Morehead, the increased blockchain use over the next four to five years might result in a price increase for some digital assets.
Dan Morehead, the CEO of institutional asset management Pantera Capital, believes there will be other troubled financial sectors in the future, but not the digital asset business.
The CEO maintained, similar to his prior views, that a crypto bull market is imminent and that blockchain technology would be used by billions of people in the next years.
In an interview with CNBC, Morehead predicted that cryptocurrencies would gain immense popularity in the near future as a result of the benefits they may provide to the monetary system.
In addition, the CEO of Pantera Capital predicted that billions of users would adopt blockchain technology in the next years, which might lead to an increase in the value of digital assets.
In four to five years, there will be literally billions of individuals using blockchain, and if a billion people want to purchase a set quantity of coins, prices would likely increase.
Notably, a few of Morehead’s earlier predictions have been fairly correct. In March 2020, he predicted that bitcoin’s value will reach a new high within the next year. Exact one year after his comment, the price of Bitcoin peaked at over $60,000
However, near the conclusion of the conversation, Morehead claimed that people pay too much attention to the principal digital asset, despite the fact that various other cryptocurrency protocols are as essential.
Earlier this month, the American showed a similar stance, noting that the market has withstood dips in the past and would do so again.
According to him, the price of bitcoin will continue to increase by around 2.5x every year, while other currencies may outpace it.
“Bitcoin is no longer indispensable. Bitcoin once comprised the whole of the market, and for a while, Bitcoin and Ethereum were almost everything. Now there are a great number of really significant projects, and you’ve seen Bitcoin climb a little, but the true story is that projects other than Bitcoin and Ethereum are rallying more.”
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