Pantera Capital CEO Dan Morehead doubles his prediction on the price of bitcoin for 2021. The CEO believes that the price of bitcoin will reach $ 115,000 in August 2021. This was said in a conference call on January 12, as reported by Blockworks.
Bitcoin to $ 115K by August 2021
Dan Morehead, founder and CEO of Pantera Capital, once again strengthens his stance on his earlier statement that bitcoin is poised to break the $ 100K mark in less than six months from now.
Morehead first shared his opinion in early 2020 in a letter to investors after examining bitcoin's performance to date before the 2020 bitcoin halving. He emphasized in the letter that there were more than a 50-50 chance that the price of bitcoin soared through the roof, sending the price of the most valuable cryptocurrency, bitcoin, to more than $ 100,000 in August 2021.
Dan Morehead isn't backing down on his prediction with a stronger conviction than ever this time in a more recent statement.
“The crypto landscape is so strong right now”Says Dan Morehead. One of the reasons he gave further was the interest in cryptocurrency adoption by central banks with China testing a sovereign digital currency and the United States 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 on earth who don't have access to a bank, but they do have access to a smartphone, and that's all you need to use a cryptocurrency," said Dan Morehead.
Once again, he backs up his claim with the fact that most of the projects during the 2017 bullfight were simply ideas. However, this bull run is fueled by real work projects. Pantera Capital itself invested in the decentralized financial platform, 1 inch, sometime in December 2020. The company believes DeFi will become increasingly essential as cryptocurrencies continue to receive worldwide recognition.
Many more analysts also believe that the price of bitcoin will be worth hundreds of thousands of dollars in 2021.
Morgan Creek CEO Mark Yusko believes that bitcoin could be traded between $ 400K and $ 500K by the end of 2022.
Binance.US CEO Catherine Coley also predicted a bitcoin price value of $ 100K by the end of 2021.