- Pantera Capital CEO Dan Morehead shared his Bitcoin forecast for 2021. The CEO believes the market will price Bitcoin well above $ 100,000 by August 2021. Morehad said this during a conference on January 12, as reported by Blockworks.
“Bitcoin could break $ 100,000 in August.”
Dan Morehead, founder and CEO of Pantera Capital, once again strengthened his stance in his previous statement that Bitcoin is ready to shred $ 100,000 in less than six months from now.
Morehead shared his opinion in a letter he wrote to investors in early 2020, after examining Bitcoin’s performance from year to date before the 2020 BTC halving. In the letter, he emphasized that the price of Bitcoin, the most valuable cryptocurrency, will be over $ 100,000 in August 2021.
Dan Morehead, in a more recent statement this time, does not back down from his prediction with a stronger conviction than ever before.
The table is better than ever
“The picture for crypto is very strong right now,” says Dan Morehead. He spoke of central banks’ adoption of cryptocurrencies, with China testing a dominant digital currency and the Federal Reserve working on a digital token.
Additionally, Morehead believes that the percentage of unbanked will increase the price of Bitcoin.
“There are over a billion people around the world who don’t have access to a bank but have access to a smartphone, and that’s all you need to use a cryptocurrency,” said Dan Morehead.
Again, he backs his claim by the fact that most projects during the 2017 bull run were just ideas. But this bull run is driven by real working projects. Pantera Capital invested in decentralized finance platform (1 inch) in December 2020. The company believes that DeFi will become increasingly important as cryptocurrencies continue to be recognized globally.