According to Pantera Capital CEO Dan Morehad, DeFi has more chances to grow 100X in the next five years than Bitcoin.
Dan Morehead, CEO and founder at investment firm Pantera Capital, is convinced that DeFi will outperform Bitcoin in the next five years.
In a recent interview with Cointelegraph, Morehead pointed out that despite the poor performance of Pantera’s altcoin funds in 2019, the situation has flipped in the last few months due to the explosive growth of decentralized finance protocols and tokens.
At the end of August, Pantera’s digital assets fund was up 123% year to date. “The world has woken up to DeFi and capital has flowed into the space”, he said.
According to the fund manager, Bitcoin has already established itself as digital gold and an effective store of wealth. Therefore, he believes its upside potential is relatively limited.
“It maybe could go to a million (…) but that’s really the edge of possibility because you’re getting into a number that’s $20 trillion in all money on Earth is only $100 trillion”.
On the other hand, DeFi is still at its infancy and largely undervalued considering its potential to disrupt the traditional financial sector – hence its huge potential for appreciation. He said:
“It’s much more likely that the entire DeFi space goes up a 100x over the next five years than Bitcoin.”
Watch the full interview on our Youtube channel and don’t forget to subscribe!
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.