• As a new crypto price era unfolds, Bitcoin will significantly underperform the altcoin market, according to Pantera Capital’s Dan Morehead

  • According to Pantera Capital’s founder and CEO, investors can expect altcoins to outperform Bitcoin (BTC) in the long run.

    In a recent edition of Pantera’s Blockchain Letter, the company’s CEO summarizes Dan Morehead’s key quotes from the SALT 2021 conference in New York. During the conference, Morehead stated that, while his company has made significant profits from BTC, he believes that the majority of future crypto gains will come from altcoin investments.

    “From my perspective, Bitcoin has been incredible – the Pantera Bitcoin Fund has returned 67,000 percent since inception.” However, I believe that the majority of future gains will come from tokens other than Bitcoin. That may appear heretical to some, but that is my professional opinion.”

    Morehead compares the rise of Bitcoin and its competitors to the late-90s tech industry boom.

    “It’s like saying in 1998 that the majority of future technological gains would come from sources other than Microsoft.”

    Microsoft was worth $218 billion at the time, Apple $3.5 billion, and Amazon $2.2 billion. Google and Facebook were 0 – they didn’t exist. Microsoft has done extremely well in the years since – its stock has increased tenfold. However, 80 percent of the technology gains in these five stocks came from sources other than Microsoft.

    That’s my point of view – I believe BTC will skyrocket – perhaps by a factor of ten. It’s a fantastic investment… [However], I believe the overall portfolio will outperform.”

    According to CoinMarketCap, BTC has a market cap of $1.156 trillion at the time of writing, while all altcoins combined have a market cap of $1.327 trillion.

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