Dan Morehead, the CEO of bitcoin investment firm Pantera Capital, says everyone needs to chill out about the current Crypto Winter.
Morehead reminded the myopic industry that the crypto space had weathered similar bear markets before, and this one actually bodes well for the future of bitcoin and blockchain.
Pantera Capital CEO Dan Morehead | Source: TechCrunch/Flickr
“This is actually our second Crypto Winter,” Morehead said on Laura Shin’s podcast Unconfirmed (audio below).
“There was one in 2014 to 2015. In the previous one, I had more of a worry in the pit of my stomach about whether blockchain was actually going to work. There were real regulatory risks.”
“With this one, the underlying fundamentals are much, much stronger than they were in the 2014-2015 Crypto Winter.”
Morehead says Pantera Capital makes investment decisions based on a five-to-10-year outlook, so its strategies are not affected by “distracting” daily bitcoin price fluctuations.
“We are always trying to think [ahead] five to 10 years in our investing and looking at the positions that would do well over a long period of time,” Morehead explained. “We’re not trying to get wrapped up in the cycles of the price action.”
Trust & Believe: Institutional Investors Will Come
While the financial media and impatient investors with day-trading mentalities wring their hands over hourly crypto prices changes, Morehead is not sweating the current downturn.
He believes that institutional investments will eventually come. However, he conceded that the current price slump is deterring them from pulling the trigger.