Pantera Crypto Fund Predicts Bitcoin at $21,000 in 2018, $67,500 by 2019
Pantera Capital was one of the first investment companies to only focus on the blockchain market and this has given the company a big reward, a substantial lifetime return of over 10,000% in only five years.
A Medium post on the five year anniversary of the company offers a retrospective view on the predictions of the company and highlights that Dan Morehead, the CEO of the company, has made correct predictions in 2013.
During a conversation with another investor in 2013, someone told Morehead that Bitcoin was just like buying gold in a dismissive tone. He told the investor that it was actually like buying gold in 1000 BC because 99% of the financial wealth was yet to be addressed to the new token.
Bitcoin Is Similar To Early Microsoft
Since 2013 the company has been very bullish on Bitcoin and both Dan Morehead and Koey Krug, the co-chief investment officers of the company, have compared early Bitcoin to early Microsoft in 2013. According to them, it was just like buying Microsoft shares for $0.20 USD. In the long term, it would be simply a great decision to be made because the investment provided a huge return on investment.
Pantera Capital has also backed some of the most successful crypto ventures in the market up until now. The company has invested in projects such as 0x, Abra, Augur, OmiseGO and Ripple.
Pantera Capital Affirms That Bitcoin May Hit $67,500 USD By 2019
The company continues to be highly bullish on the future of Bitcoin and it believes that the companies will definitely get a great return on investment if they decide to buy Bitcoin right now.
Pantera Capital’s official prediction is that the price of Bitcoin will reach $21,000 USD at the end of 2018 and then have a dramatic surge at the end of 2019, in which its price will be increased to a total of $67,500 USD.
These predictions are in line with a previous prediction of the CEO Dan Morehead that states that the institutional investors would make the price of Bitcoin go through the roof and that the new products aimed at investors would be a catalyst to increase the price of the token faster than ever.
The company has a history of capitalizing on the surge of these technologies, as it has also invested in Brave. According to the CEO, there is more than a 50% chance that the world decides to adopt the blockchain technology instead of the current expensive trust systems that banks, Visa and MasterCard already use. Because of this, it is time to buy Bitcoin and enjoy the rise in price.