Pantera Capital CEO doubles down on $115K Bitcoin prediction for 2021

Pantera Capital CEO doubles down on $115K Bitcoin prediction for 2021


Dan Morehead, founder and CEO of Bitcoin (BTC) investment firm Pantera Capital, has maintained his bullish Bitcoin prediction for 2021.

Bitcoin is poised to hit as much as $115,000 by August 2021, surging 200% in the next eight months, Morehead reportedly said at a conference call on Jan. 12. 

The exec initially made this prediction in August 2020, when Bitcoin was trading at about $11,600. At publishing time, the cryptocurrency is trading at over $38,000. On Tuesday, Morehead said that Bitcoin still has lots of room for growth:

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“Is bitcoin overvalued? I would say no. […] Bitcoin has spent three years well below its long-term compound annual growth trend line, it’s still below it, and although Bitcoin has rallied a great deal over the last six months, I think it is fairly valued.”

Morehead believes that major global digital currency developments like China’s digital yuan will positively impact the crypto market by boosting mainstream adoption. “There are over

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