Billions of people will soon be using Blockchain Tech: Pantera Capital CEO

Dan Morehead – head of institutional asset manager Pantera Capital – believes there could be many distressed financial sectors in the coming years, but the digital asset industry will not be among them.

Similar to his previous statements, the executive claimed that a crypto bull market is on the way, while blockchain technology will be used by billions of individuals in the coming years.

Bullish as usual

In a interview to CNBC, Morehead believed that cryptocurrencies will become very popular in the near future due to the benefits they can bring to the monetary network.

“What’s important to remember is that crypto is such a disruptive thing that’s going to change so many aspects of our lives over the next decade,” he said.

In addition, Pantera Capital’s CEO envisioned that billions of consumers will adopt blockchain technology in the following years, which could increase the prices of digital assets:

“I can see a world a few years from now where risk assets may still struggle, but blockchain will be back to all-time highs based on its own fundamentals.

Hundreds of millions of people are using blockchain today, but I think in four or five years there will be literally billions of people, and if you have a billion people, they will buy a fixed number of coins, so the prices will probably go up .”

It’s worth noting that some of Morehead’s previous forecasts have been quite accurate. In March 2020, he claimed that bitcoin’s valuation will set a new record in the next 12 months. Exactly one year after his statement, BTC peaked above $60,000.

Still, at the end of the interview, Morehead argued that people are paying too much attention to the primary digital asset when many other cryptocurrency protocols are just as important.

“We are all used to using bitcoin as a proxy for blockchain, there are hundreds of really interesting projects.”

The rally is coming soon

Earlier this month, the American showed a similar position, recalling that the market has survived downturns before and will overcome the current one as well.

In his view, bitcoin’s price will continue to rise by about 2.5 times per year, while some alternative coins may surpass the pace of development:

“Bitcoin is no longer everything. There was a time when bitcoin was 100% of the market, and for a while Bitcoin and Ethereum were really everything. Now there are many, many really important projects, and you’ve seen bitcoin rally a little bit, but the real story are projects other than Bitcoin and Ethereum that collect more.