Blockchain

Pantera Capital’s CEO gives Fitting Reply to Buffet’s Crypto Comment – ‘Rat Poison’ 

Pantera Capital is an investment firm which focuses on ventures, tokens and projects related to blockchain technology, digital currency and crypto assets. The firm is positive on cryptocurrency returns even though the market is at a downside as of now.

The CEO of Pantera Capital, Dan Morehead who also is the Chief Investment Officer spoke at a conference about initial coin offerings (ICO’s) and digital asset funds. He highlighted the optimism his company shares about cryptocurrency with a history of stating market cap of cryptocurrency being worth $40 trillion one day.

Morehead calmly explained that in the present scenario it is best to buy Bitcoin and other cryptocurrencies.

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 “That’s actually a good time to increase your position,” Morehead said.

Explaining the situation, Morehead said, “It’s highly likely to be the low point for the industry. My normal view is that it’s going to return to its trend.”

What stood out, however, was Morehead’s shrewd reply to Warren Buffet’s comment about crypto earlier this year. One of the most illustrious investors of all time Warren Buffet’s ‘rat poison’ comment about cryptocurrency created quite a reflection on the market given his influence.

Morehead replied sarcastically, “It is rat poison; it’s just the banks, and credit card companies are the rats.”

Morehead paid heed to the fact that Bitcoin’s use cases are plenty and has already started being implemented compared to the internet’s slow start in the 1990’s. He even called blockchain the most asymmetric risk-reward trade’ due to the fact of not being able to lose everything even if invested upon.

Pantera Capital has an excellent portfolio of blockchain and cryptocurrency companies. It includes the popular prediction market platform Augur which is built on Ethereum along with a diversified investment in 30 different cryptocurrencies.

How has Pantera Capital been successful? In the simple logic of investing early in projects that are promising in order to maximise returns through the early access of token sales.

A week ago Pantera Capital’s CEO, Dan Morehead even commented on the Bitcoin ETF delay causing the Bitcoin market to go red. He called it an ‘overreaction’ and appealed for calm. 

Dan Morehead is the perfect cryptocurrency influencer in times like this when the market is facing a slump; his levelheadedness will help crypto investors calm down.

Image Source: “Flickr”

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