September 21, 2020

Pantera founder predicts Bitcoin will be worth more than $100,000 in the future

 

Pantera Capital is the oldest Bitcoin investment firm in the United States. When the company’s founder, Dan Morehead, was asked to make a prediction of Bitcoin’s price during a recent interview, he first mentioned an investment letter published by the firm. In this letter, based on a stock-to-flow model, the company made the bold prediction that Bitcoin Future would reach $115,000 by August 2021.

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Stock to flow model

Morehead expects Bitcoin to keep growing

Morehead believes this is still possible, even though in just one year, the price of the asset would have to increase to almost 10 times its current value. However, his personal prediction is a bit more modest, he said:

„My common response is that it has been growing at 209% for nine years, I think it’s going to grow at least 209% in the next two years and that puts it at $100,000, probably in two years; but I think that will happen.

Bitcoin’s price is now „perfectly on track“ at $100,000, says the creator of the Stock-to-Flow model
If Bitcoin continues to grow at 209% per year, it will reach the $100,000 mark in 1.92 years. If it were to reach $115,000 in just one year, that would require an annual growth rate of 900%.

Morehead also noted that he is tired of the skeptics who constantly pose the question „What is the killer application of Bitcoin? In his opinion, Bitcoin itself is the killer app, and its main use case is a reservoir of value. Bitcoin does it better than gold, which has a market capitalization of $9 trillion, Morehead said.