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Monday, September 14, 2020



Bitcoin / U.S. dollar BITSTAMP:BTCUSD

‘Dan Morehead, CEO of blockchain investment firm Pantera Capital, says that although he’s extremely bullish on Bitcoin , the decentralized finance (DeFi) space will likely be much more lucrative in the coming years.

In a new interview with CT , the Pantera Capital chief executive says DeFi is still relatively undervalued compared to BTC .

“Bitcoin has a $250 billion market cap, and that’s great. It’s already achieved that. Whereas, the other use cases like DeFi are still just in their nascent state. DeFi has a market cap now of about $4 billion. If you’re looking at Bitcoin at $215 billion or DeFi at $4 billion, it seems like DeFi is cheaper, right?”

Morehead launched Pantera’s Bitcoin fund back in 2013, when BTC was just $104. Though Pantera’s BTC investments have done remarkably well, the crypto titan believes that DeFi is now in a position to outpace the largest cryptocurrency, rising 10,000% in the years to come.’

from Trading Ideas
via gqrds

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