Hedge Fund CEO Is Bullish On Cryptocurrencies
The CEO of Pantera Capital Dan Morehead is no stranger to bullish remarks concerning bitcoin and the crypto market. He remarked in a recent interview, that the crypto market was on track to produce far higher returns than leading financial markets.
These comments in the immediate of the cryptocurrency market correction saw the total crypto market cap decline by almost 50 percent at the start of 2018.
Morehead is still optimistic that investors will turn healthy profits, even with the persistent price slump. The investor turned the dot-com bubble argument on its head extracting his point.
The Pantera CEO described a positive scenario for investors in letter given on March 16.
Naturally, and despite the majority of internet stocks crashing at the turn of the millennium, said investors still enjoyed massive gains.
He assured his investors, that even bitcoin were to go to another website view, they would still make health profits.
The Pantera CEO spoke in his letter about the importance of a diversified crypto investment portfolio. He took inspiration from Jeff Bezos, the CEO of Amazon and his investment strategy during the dot-com era.
He advised investors to put some money from their crypto portfolio into blockchain projects. He even called bitcoin “the miracle whip of finance.”