Pantera founder: ‘Bitcoin is better than gold’ as a reserve asset

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As a seasoned researcher with a background in finance and technology, I find Dan Morehead’s perspective on crypto and blockchain particularly insightful. His comparison of Bitcoin to digital gold resonates with my own beliefs, having closely followed the development of these revolutionary technologies over the years.

According to Dan Morehead, the founder and chief executive of Pantera Capital, he firmly believes that cryptocurrencies are superior choices for long-term investments compared to gold.

Speaking with CNBC on Thursday, Morehead compared the development of blockchain technology to historical financial innovations and expressed some serious optimism about the crypto and blockchain space — especially as more and more institutions expose themselves to it.

Currently, many institutions haven’t delved much into blockchain technology yet. However, as they begin to explore this area, it seems likely that it will be successful for them.

As an analyst, I’ve noticed that regulatory uncertainties are identified as significant obstacles for mainstream institutional adoption of cryptocurrencies. This is underscored by the continuous legal battles involving prominent crypto companies.

These advancements, as he pointed out, have sparked uncertainty within pension plans, foundations, and significant investment groups. He advocated for more transparent regulatory frameworks to encourage wider involvement of these institutions in the market.

Bitcoin is better than gold

One of Morehead’s daring statements suggested that Bitcoin (BTC) surpasses gold in its role as a store of value or reserve asset. Emphasizing the existing gold reserves held by the U.S. government, he posited that Bitcoin presents a more streamlined choice for national reserves.

Based on Morehead’s statements, the United States currently holds approximately 1% of the global Bitcoin supply. It could be advantageous for the U.S. to assume a dominant position in Bitcoin ownership.

“Go to digital gold, Bitcoin, it’s much better,” he said.

As a crypto enthusiast, I too share an optimistic outlook on the future path of the digital currency market. In fact, Bitcoin’s remarkable annual price growth – often doubling – over the last ten years is a testament to its potential longevity and prosperity in the global financial landscape.

“Bitcoin has more than doubled this year… but that’s not unusual,” he said

2025 might mark a crucial turning point for cryptocurrencies, according to Morehead, as it’s anticipated that regulatory decisions could stimulate substantial investment from institutions. Moreover, he believes that the sector of stablecoins is primed for expansion.

As some large corporations continue to be cautious about incorporating Bitcoin into their financial portfolios, Morehead anticipates that insurance companies, pension funds, and endowments will spearhead the next stage of market growth. With clearer guidelines in place, he contends that institutions will increasingly perceive blockchain technology as a legitimate investment category.

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2024-12-13 22:00