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Dan Morehead, the CEO of Pantera Capital, recently shared his perspective on Bitcoin‘s current price trajectory in an appearance with CNBC. Despite Bitcoin’s recent stagnant price, Morehead remains optimistic about its growth potential.
He stated, “Bitcoin has a 14-year trend growth of 145% a year. That’s kind of my general forecast. It’ll just restart that and every year it’ll more than double.” This showcases Morehead’s belief that Bitcoin is set to return to its upward path.
Furthermore, Morehead envisions the blockchain sector as being in a “20-year secular bull market.” He foresees a plateau in Bitcoin’s growth only when its ownership becomes ubiquitous.
Beyond Bitcoin, Morehead also touched upon other assets. He perceives current equities as overpriced, views real estate prices as retreating from their peak, and believes investing in bonds is now “pretty dangerous.” With such evaluations, he anticipates a downward trend for equities in the upcoming years.
Highlighting potential avenues for investment, Morehead said, “That does leave a couple of asset classes, like real commodities and blockchain. Blockchain is a trillion-dollar asset class. Most institutions have essentially zero exposure right now. They should dial it up to a couple percent.”
At the time of writing, Bitcoin’s price stood at $27,913 according to CoinMarketCap data. In the last 24 hours, it has seen a uptick of nearly 1.85%.