Pantera CEO: Bitcoin (BTC) Is A “Serial Killer,” Crypto To Reach Global Adoption

Despite Crypto Market Dump, Pantera’s Morehead Bullish On Bitcoin

Bitcoin has long been touted as a viable alternative to centralized banking systems. As recently put by, Dan Morehead, the CEO at San Francisco-based Pantera Capital, in a Business News Network (Bloomberg) interview, Bitcoinisn’t just a “category killer,” but a “serial killer” as well.

Morehead, formerly of Goldman Sachs, elaborated:

It is going to go through dozens of different industries. One of the last [industries it will pass through] is actually point-of-sale, merchant payment type-thing. It isn’t too good at that right now. [But it is] great at cross-border money movement and storing your wealth, especially in a country where there’s depreciating currency (inflation).

The cryptocurrency advocate added that while this nascent innovation may be good at things now, over the next decades, blockchain networks will be actively involved in day-to-day consumer payments, with buying a cup of Starbucks coffee with crypto assets becoming commonplace.

Touching on Bitcoin’s relative speed and cost-efficiency in global payments, while seemingly echoing comments recently made by Ripple Labs’ Cory Johnson, Morehead pointed out that “it is literally faster to pick up a suitcase with money, go to the airport, and fly to London.” But, with digital assets, payments can be sent near-instantly, at a near-negligiblefee, and without a reliance on centralized systems, which are now antiquated and rapidly losing viability.

But, while the Bitcoin Network is poised to tackle the need for faster, cheaper, uncensorable remittance transactions, there are still a number of barriers that this industry will need to bound over before global adoption becomes a reality. Morehead drew attention to the “clunky exchanges” that exist in crypto, alluding to the fact that trading fees can quickly rack up for the consumer, a likely turn-off for mom-and-pop investors.

Echoing Joey Krug, his colleague, the Pantera CEO explained that scalability is one of crypto’scurrent primary concerns. While Bitcoin has proven that it can operate in a decentralized and autonomous matter, the world’s first blockchain network has yet to run at scale, failing to adequately meet transactional demands during late-2017.

So, he drew attention to the fact that over the next years, developers will (and should) be focusing on undertaking projects/protocols that allowsnetworks to facilitate tens of thousands, if not hundreds of thousands of transactions per second. Even if scaling isn’t possible, the Pantera Capital executive alluded to his sentiment that crypto assets will remain a disruptive technology that could alter human history.

Further touching on why blockchain technologies are more than a passing fad, Morehead explained that the cryptocurrency community has grown by over 50x in recent years, adding that he expects another Cambrian explosion to occur in due time.

He then drew attention to corporateand institutional forays into this budding sector, specifically calling out ICE’s Bakkt, Walmart’s lettuce-on-blockchain foray, Fidelity’s custody solution, and IBM’s multitude of blockchain-related technological advancements.

Title Image Courtesy of Andre Francois via Unsplash

The post Pantera CEO: Bitcoin (BTC) Is A “Serial Killer,” Crypto To Reach Global Adoption appeared first on Ethereum World News.

16.11.2018 / 23:20 52
Pantera Capital CEO: ‘In a Decade Billions of People Will be Using Bitcoin Pantera Capital CEO: ‘In a Decade
In the words of the CEO of bitcoin investment firm Pantera Capital, Dan Morehead, disruptive technologies usually earn the title ‘category killers’
A Bitcoin ETF is “Years Away,” Says The CEO of Pantera Capital A Bitcoin ETF is “Years Away,” Says The
During a panel discussion on investing at Bloomberg’s Institutional Crypto conference in New York City, Dan Morehead, CEO of Pantera Capital said
Pantera Capital CEO: A Bitcoin ETF is ‘Years Away’ Pantera Capital CEO: A Bitcoin ETF is
Pantera Capital CEO Dan Morehead believes a Bitcoin-ETF approval is insignificant in comparison to Bakkt and Fidelity launching cryptocurrency
Bitcoin ‘Is a Screaming Buy Right Now,’ Says Pantera Capital CEO Bitcoin ‘Is a Screaming Buy Right Now,’
Haven’t dipped your toes in Bitcoin’s waters, yet? Well, according to one market analyst, now’s the time to take the plunge. ‘Screaming Buy’ In an
Pantera Fund CEO Calls Bitcoin “A Screaming Buy,” Highly Optimsitic Pantera Fund CEO Calls Bitcoin “A
Cryptocurrency hedge fund Pantera CEO called Bitcoin a “screaming buy” and made a ten year $40 trillion dollar prediction. Hedge Fund CEO Looks for
‘It’s a Very Good Time to Buy’ Bitcoin, Says Pantera Capital CEO ‘It’s a Very Good Time to Buy’ Bitcoin,
Feeling bullish over the latest Bitcoin price action? According to one cryptocurrency hedge fund manager, you should be. ‘It’s a Very Good Time to
Comments (0)
Add a comment
Comment on