Crypto Investment Fund Pantera Capital Predicts $67,500 Bitcoin in 2019

Pantera Capital, one of the first investment firms to focus solely on the cryptocurrency and blockchain sector, has announced a substantial lifetime return of over 10,000% in a recent announcement celebrating the fund’s 5-year anniversary.

Announced via Medium on July 27, Pantera Capital’s five-year anniversary celebration offers a retrospective view on the history of the firm’s predictions for the cryptocurrency market, highlighting accurate forecasts made by Pantera Capital CEO Dan Morehead in 2013:

“I was discussing bitcoin with an investor yesterday and he replied somewhat dismissively “It’s just like buying gold”. No, it’s like buying gold in 1000 B.C. 99% of the financial wealth has yet to address bitcoin. When they do, bitcoin is either going to be worth zero or $5,000 /BTC.”

Bitcoin Similar to Early Microsoft

Pantera Capital, founded in 2013, has remained bullish on Bitcoin since inception, with co-chief investment officers Dan Morehead and Joey Krug comparing Bitcoin to early Microsoft stocks in a 2013 statement highlighted in the Medium announcement:

“… In my opinion, it’s like deciding whether to buy Microsoft back in the day at $0.20 a share. It was hard to do when the stock was just at $0.10. In the fullness of time…clearly a great trade. I believe bitcoin right now is just like that”

The Pantera Capital fund has backed some of the most successful ventures in the crypto space, investing in projects such as 0x, Abra, Augur, OmiseGO, and Ripple.

Pantera: ‘Bitcoin May Hit $67,500 by 2019’

Pantera Capital’s anniversary announcement and lifetime return reports may offer a compelling example of the past benefits of cryptocurrency investment, but the market predictions outlined by the firm present a highly bullish stance on the future of Bitcoin.

The cryptocurrency investment firm predicts a $21,000 Bitcoin price by the end of 2018, and a dramatic surge to $67,500 by the end of 2019. Pantera Capital’s bullish price predictions are in line with previous assessments form CEO Dan Morehead, who stated earlier this year that the launch of custodial solutions aimed at institutional investors will catalyze a rapid increase in Bitcoin price.

Coinbase’s New Listing Candidates: What Are Cardano, Basic Attention Token, Stellar Lumens, Zcash, and 0x?
Related: Coinbase’s New Listing Candidates: What Are Cardano, Basic Attention Token, Stellar Lumens, Zcash, and 0x?

Pantera Capital’s forward-leaning investment portfolio is set to capitalize on a rapid surge in cryptocurrency adoption, notably including Brave — a blockchain-based browser project integrated with the Basic Attention Token, which is currently under consideration for listing by Coinbase.

By backing projects that aim to solve some of the primary issues present within the blockchain ecosystem, Pantera Capital appears to hold a positive long-term view on the future of Bitcoin and cryptocurrency in general:

“I think it’s north of 50% chance that the world adopts a global currency/payment system in which free cryptography replaces the very expensive “trust” charged by banks/VISA-MasterCard/Western Union/PayPal/etc. Bitcoin dominates cash, electronic fiat money, gold, bearer bonds, large stone discs, etc. It can do all of the things that each of those can.”

Cover Photo by Florian Schneider on Unsplash

Commitment to Transparency: The author of this article is invested and/or has an interest in one or more assets discussed in this post. CryptoSlate does not endorse any project or asset that may be mentioned or linked to in this article. Please take that into consideration when evaluating the content within this article.

Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

Did you like this article? Join us.

Get blockchain news and crypto insights.

Join Us on Telegram

Sam Town Author

Sam Town

Samuel is a freelance journalist, digital nomad, and crypto enthusiast based out of Bangkok, Thailand. As an avid observer of the rapidly evolving blockchain ecosystem he specializes in the FinTech sector, and when not writing explores the technological landscape of Southeast Asia.

View author profile





READ SOURCE

SHARE

LEAVE A REPLY

Please enter your comment!
Please enter your name here