Investment company Pantera Capital, which is headed by Dan Morehead, gave forecasts for the bitcoin (Bitcoin) exchange rate in the next two years. The company also shared data on its income over the past five years, according to her blog.
Why it is IMPORTANT
Pantera Capital is focused on cryptocurrencies and blockchain projects. Since 2013, the company's profit was 10 000%. The company's blog contains excerpts from the letters of CEO Dan Morehead, which he sent to investors five years ago. So, it says that the price of the first cryptocurrency will be $5000. The blog notes that this was the goal of Pantera Capital as of 2013. The letter provides a graph of bitcoin price over the past eight years, which indicates a stable growth. "Based on this historical trend line, it can be projected that by the end of 2018, the price of bitcoin will be about $21,000, and by the end of 2019 it will cost $67,500," writes Morehead. In letters to investors from 2013 CEO Pantera Capital notes that he is convinced of the rise in the price of bitcoin. "From the point of view of the standards of a normal securities market, it sounds crazy, but I believe that within 6-8 weeks bitcoin will soar above $200," he wrote two months before the growth of the bitcoin rate to $250. Investments in cryptocurrency five years ago Morehead compared with the purchase of Microsoft shares (NASDAQ: MSFT) "in the days when they cost $0.2". "Over time, this is absolutely a great purchase, and today bitcoin is in this position," Morehead said in November 2013. In December 2017, when the price of bitcoin reached $20 000, CEO Pantera Capital said that the cryptocurrency will fall in price by half, but then its price will start to grow again. In April, he said that bitcoin will grow again to $20,000 and the entire 2019 year will stay above this level. In early June, the head of the company announced that the cost of the first cryptocurrency has reached a minimum.