Dan Morehead, founder and CEO of Pantera Capital, recently said that despite the high demand for Bitcoin, “less than enough” institutional investors are holding Bitcoin.. Morehead also expects Bitcoin to recover and start rising again in the coming weeks.
Bitcoin Hopeful
Pantera Capital founder is not too worried about Bitcoin’s recent decline.. “We are certainly aware that it is a speculative market,” said Morehead, adding, “(the price) is volatile in the highs as well as the lows.” it lasts and it’s (think) 52. we are in the day. After a few more weeks, everything seems to be back to normal and Bitcoin will continue to grow again.”. Pantera Capital has also invested in a few crypto startups such as Bitstamp, Korbit, Xapo, and Bitpesa.
Institutional Investors Few
Pantera Capital’s CEO has a lot of people wanting to get involved in the cryptocurrency market. He said there are “less than enough” institutional investors who still own Bitcoin, and that the ‘big’ investors may raise the price in the near future.
“There are so many institutional investors who want to get involved in this. This is a half-trillion dollar asset class that no one owns. This is a pretty crazy situation.”
Morehead attributes the recent decline of Bitcoin to the lack of institutional investors in the cryptocurrency market and said, “Bitcoin is being bought by so few institutional investors than it should be. now it’s moving at its own pace.” They did a great job… The Commodities Futures Commission has been pretty progressive in this regard… The Securities and Exchange Commission has generally allowed markets to thrive.” He said it was “good so far” and added that “a little bit of editing was probably helpful.”
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