Pantera Capital is the oldest Bitcoin investment firm in america. When the corporate’s founder, Dan Morehead, was asked to make a Bitcoin worth prediction throughout a latest interview, he first talked about an funding letter printed by the agency. On this letter, based on the stock-to-flow model, the agency made the daring prediction that Bitcoin will hit $115,000 by August 2021.
Inventory to stream mannequin. Supply: Glassnode.
Morehead expects Bitcoin to continue to grow
Morehead thinks that is nonetheless doable, even supposing in only one 12 months, the asset’s worth must enhance to almost 10 instances its present worth. But, his private prediction is a bit more modest, he mentioned:
“My widespread response is it has been rising at 209% for 9 years, I feel it will develop no less than 209% over the following couple years and that places you at $100 000, most likely in two years; however I do assume that can occur.”
If Bitcoin continues to develop at 209% yearly, then it’s going to attain the $100,000 mark in 1.92 years. If it have been to achieve $115,000 in only one 12 months, that might require a 900% annual development fee.
Morehead additionally famous that he’s uninterested in skeptics who consistently pose the query “What’s Bitcoin’s killer app?”. In his opinion, Bitcoin itself is the killer app and its major use case is a retailer of worth. Bitcoin does it higher than gold, which has a market capitalization of $9 trillion, purported Morehead.