Billions of People Will Use Blockchain Tech Soon
The digital asset market won’t be one of the many financially challenged sectors in the years to come, according to Pantera Capital’s Dan Morehead, head of institutional asset management.
The executive asserted, in line with his earlier claims, that a bull market in cryptocurrencies is imminent and that, in the years to come, billions of people will use blockchain technology.
According to Dan Morehead, the growing use of blockchain technology over the next four to five years could boost the value of some digital assets.
Excellent as usual
Morehead predicted that cryptocurrencies will be quite popular in the near future because to the benefits they might offer to the financial system in an interview with CNBC.
“The important thing to keep in mind is crypto is such a disruptive thing that’s going to change so many aspects of our lives in the next decade,” he said.
Additionally, according to the CEO of Pantera Capital, billions of customers will use blockchain technology in the next years, which might drive up the cost of digital assets:
“I can see a world a few years from now where risk assets might still be struggling, but blockchain will be back to all-time highs based on its own fundamentals.
Hundreds of millions of people use blockchain today, but I think in four-five years, it’s going to be literally billions of people, and if you have a billion people, they want to buy a fixed number of coins, so prices will probably go up.”
It’s important to note that some of Morehead’s earlier predictions have proven to be very correct. He predicted that bitcoin’s value would reach a new high in the coming year in March 2020. BTC reached its peak price of more over $60,000 exactly one year after his statement.
However, Morehead emphasized at the conclusion of the interview that many other cryptocurrency protocols are just as significant and that people tend to focus too much on the main digital asset.
“We all are used to using bitcoin as a proxy for blockchain, there are hundreds of really interesting projects.”
The Rally is About to Happen
A similar stance was taken earlier this month by the American, which emphasized that the market had previously weathered dips and will do so again.
He predicts that bitcoin’s price will increase by about 2.5 times annually and that certain alternative coins may outperform bitcoin in terms of growth:
“Bitcoin is no longer everything. There was a time Bitcoin was 100% of the market, and for a while, Bitcoin and Ethereum were essentially everything. Now there are many, many really important projects, and you’ve seen bitcoin rally a bit, but the real story is projects other than Bitcoin and Ethereum that rally more.”
Source: Crypto Potato