Dan Morehead, CEO of blockchain investment firm Pantera Capital, says that although he’s extremely bullish on Bitcoin, the decentralized finance (DeFi) space will likely be much more lucrative in the coming years.
In a new interview with CT, the Pantera Capital chief executive says DeFi is still relatively undervalued compared to BTC.
“Bitcoin has a $250 billion market cap, and that’s great. It’s already achieved that. Whereas, the other use cases like DeFi are still just in their nascent state. DeFi has a market cap now of about $4 billion. If you’re looking at Bitcoin at $215 billion or DeFi at $4 billion, it seems like DeFi is cheaper, right?”
Morehead launched Pantera’s Bitcoin fund back in 2013, when BTC was just $104. Through Pantera’s BTC investments have done remarkably well, the crypto titan believes that DeFi is now in a position to outpace the largest cryptocurrency, rising 10,000% in the years to