{"id":126458,"date":"2018-04-27T02:00:52","date_gmt":"2018-04-27T06:00:52","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=126458"},"modified":"2021-09-12T19:00:38","modified_gmt":"2021-09-12T23:00:38","slug":"pantera-fund-ceo-calls-bitcoin-a-screaming-buy-highly-optimsitic","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/pantera-fund-ceo-calls-bitcoin-a-screaming-buy-highly-optimsitic","title":{"rendered":"Pantera Fund CEO Calls Bitcoin \u201cA Screaming Buy,\u201d Highly Optimsitic"},"content":{"rendered":"

Cryptocurrency hedge fund Pantera CEO called Bitcoin a \u201cscreaming buy\u201d and made a ten year $40 trillion dollar prediction.<\/p>\n

Hedge Fund CEO Looks for Big Gains in the Remainder of the Year.<\/p>\n

CEO of Pantera capital management LP. cryptocurrency hedge fund Dan Morehead went on Bloomberg Television<\/a> again to talk about the future of Bitcoin and the state of the cryptocurrency space in general. Morehead who is always bullish on cryptocurrency forecast some big returns for 2018 including Bitcoin regaining its maximum\u00a0value from 2017 in the next twelve months.<\/p>\n

Morehead had recently made only his fourth buy prediction<\/a> in his seven years of trading in cryptocurrency when Pantera issued a notice to its investors to buy when Bitcoin dipped to what he called its ultimate low at 6,500. It\u2019s gained and held over $2,000 since then but still, Morehead told Bloomberg it is a \u201cscreaming buy\u201d today.<\/p>\n

The interview moved on to how the appearance of cryptocurrency is changing. Morehead said that Bitcoin had shed its \u201cskanky\u201d reputation and this was attracting more institutional interest which would drive prices up across the entire space. He continued saying,<\/p>\n

\u201cObviously, we\u2019re very bullish on the space. We think we\u2019re way below, maybe an order of magnitude \u2014 or two \u2014 below the real fundamental fair value of blockchain, the industry as a whole is $400 billion. It easily could go to $4 trillion, and $40 trillion is definitely possible.\u201d<\/p>\n

Morehead\u2019s acumen at reading the volatile crypto market was proved out when he said at the height of the mid-December\u00a0trading frenzy that Bitcoin could lose half of its value at the beginning of the new year. After which, Bitcoin, and almost all other cryptocurrencies slipped into a bear market that we are just coming out of now.<\/p>\n

Pantera Capital handles an estimated one billion dollars in assets of which 10 percent is in Bitcoin. When asked about Pantera\u2019s investment breakdown Morehead\u00a0revealed that presently their biggest position is in the Korean Blockchain\u00a0Icon<\/a>.<\/p>\n

Mt. Gox may be Dumping more Bitcoin on the Market<\/p>\n

In the short term though Bitcoin may be headed for another price dip as information regarding a 16,000 coin block of Bitcoin and an equal amount of Bitcoin cash from the Mt. Gox reserve has been transferred out of cold wallet storage. Large transactions made by the trustees<\/a> of the Mt. Gox estate\u00a0since December of 201 have been blamed for causing the price of Bitcoin to crash.\u00a0The last time Mt Gox transferred a large amount of Bitcoin from its cold wallets was on\u00a0February\u00a05, the next day Bitcoin fell to its all-time low for the year at $6,000<\/p>\n

The post Pantera Fund CEO Calls Bitcoin \u201cA Screaming Buy,\u201d Highly Optimsitic<\/a> appeared first on NewsBTC<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Cryptocurrency hedge fund Pantera CEO called Bitcoin a \u201cscreaming buy\u201d and made a ten year $40 trillion dollar prediction. Hedge Fund CEO Looks for Big […]<\/a><\/div>","protected":false},"author":1033,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-126458","post","type-post","status-publish","format-standard","hentry","category-more-crypto-news"],"acf":[],"yoast_head":"\nPantera Fund CEO Calls Bitcoin \u201cA Screaming Buy,\u201d Highly Optimsitic - InsideBitcoins.com<\/title>\n<meta name=\"description\" content=\"Crypto hedge fund Pantera CEO called Bitcoin a \u201cscreaming buy\u201d and made a 10 year $40 trillion dollar prediction.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/126458\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pantera Fund CEO Calls Bitcoin \u201cA Screaming Buy,\u201d Highly Optimsitic\" \/>\n<meta property=\"og:description\" content=\"Crypto hedge fund Pantera CEO called Bitcoin a \u201cscreaming buy\u201d and made a 10 year $40 trillion dollar prediction.\" \/>\n<meta property=\"og:site_name\" content=\"InsideBitcoins.com\" \/>\n<meta property=\"article:published_time\" content=\"2018-04-27T06:00:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-09-12T23:00:38+00:00\" \/>\n<meta name=\"author\" content=\"John McMahon\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"John McMahon\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/126458#article\",\"isPartOf\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/126458\"},\"author\":{\"name\":\"John McMahon\",\"@id\":\"https:\/\/insidebitcoins.com\/#\/schema\/person\/074761d4ff61bc79907b3bbef632f113\"},\"headline\":\"Pantera Fund CEO Calls Bitcoin \u201cA Screaming Buy,\u201d Highly Optimsitic\",\"datePublished\":\"2018-04-27T06:00:52+00:00\",\"dateModified\":\"2021-09-12T23:00:38+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/126458\"},\"wordCount\":459,\"publisher\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"articleSection\":[\"More Crypto News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2018\",\"copyrightHolder\":{\"@id\":\"https:\/\/insidebitcoins.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/126458#primaryimage\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/126458\",\"url\":\"https:\/\/insidebitcoins.com\/wp-json\/wp\/v2\/posts\/126458\",\"name\":\"Pantera Fund CEO Calls Bitcoin \u201cA Screaming Buy,\u201d Highly Optimsitic - 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