Dan Morehead is CEO of Pantera Capital and a strong supporter of Bitcoin
After facing a difficult month in March, Bitcoin made an excellent recovery in April, closing the month above $ 8,800 – the highest figure since February – enlivening the crypto community. Who was also quite optimistic about Bitcoin was Pantera Capital CEO Dan Morehead, who used Twitter to talk about BTC:
#Bitcoin Gold Year-To-Date overtakes.
Bitcoin was born in a financial crisis. It will come of age in this one. pic.twitter.com/Lw2Sn9RtR1
– Dan Morehead (@dan_pantera) April 29, 2020
“#Bitcoin surpasses gold in the year.
Bitcoin was born in a financial crisis. The majority will come in this. ”
Morehead’s optimism is not without reason. Presenting an excellent performance compared to most markets, Bitcoin has managed to perform well in times of crisis.
Although the main cryptocurrency weakened on March 12, dropping more than 37% in 24 hours, its performance is exceedingly superior to what we can see in the assets of traditional markets. Another factor to be pointed out is that even gold fell in March, showing the economic distrust present at that time.
Confirm pointed by BeinCrypto, the growth of BTC this year, despite the outbreak, may be a testament to this theory (maturing of assets). One of the possible reasons for this is that Bitcoin was conceptualized around the 2008 recession and was therefore built to withstand an economic crisis.
Charlie Shrem is also putting his chips on the BTC
On the eve of Bitcoin halving, we can see that the CEO of Pantera Capital is not an isolated figure in the belief of BTC’s good performance. CryptoIQ founder Charlie Shrem is a longtime Bitcoin supporter, having recently participated in a podcast where he talked about the golden coin and its relationship with the dollar:
“Bitcoin is a better bet than the dollar. The dollar is falling, so Bitcoin’s value needs to go up.
That is, it is the people who hold dollars that are screwing. ” said Shrem.
He further pointed out how unusual Bitcoin is to halve during a gigantic economic crisis caused by a pandemic. This situation, of course, could not better illustrate what BTC is: a currency of the crisis, created in a crisis, with the functionality of protecting people from the crisis.
So, do you agree with them? Leave your opinion in the comments!