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One early Bitcoin investor has crunched the numbers on BTC, and thinks the leading crypto is looking mighty undervalued at the moment.
“We did a study showing the number of people using Bitcoin over the years and price of Bitcoin. Both of those data series went up by an order of magnitude every two years. If that kept going, that would put BTC at $700,000 when everybody with a smartphone uses it. Ten years time is a reasonable forecast,” Pantera Capital founder Dan Morehead said on Yahoo Finance Live.
Morehead launched his first crypto fund back in 2013. Today, the firm has $2.8 billion in assets under management that spans venture investments and early stage token investments.
In other trending Bitcoin News today: MicroStrategy splashes $177M on Bitcoin, now holds almost 109,000 BTC!
MicroStrategy’s Bitcoin holdings are now worth more than $5.3 billion at the current BTC price.
With its latest purchase, Michael Saylor’s firm now holds 108,992 BTC, which cost the company about $2.918 billion to acquire at an average price of approximately $26,769 per “coin.”
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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.
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