Dan Morehead: “Bitcoin is a serial killer”
Dan Morehead: “Bitcoin is a serial killer”

Dan Morehead: “Bitcoin is a serial killer”

By Marco Cavicchioli - 14 Apr 2020

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Dan Morehead, CEO of Pantera Capital, recently said that the current crisis could benefit Bitcoin. 

During a podcast with Peter McCormack he said that Bitcoin was created in the wake of the 2008 financial crisis and now, almost 12 years after its creation, a new financial crisis could lead people to choose to use this non-sovereign, global, immutable, digital and decentralized currency. 

The recent collapse of the markets, with the forced closure of companies and unemployment rising to record levels, especially in the US, governments around the world have taken unprecedented action with monetary policies based on huge quantitative easing, which once again highlights the advantages of Bitcoin’s rigid monetary policy. 

Morehead said: 

“Bitcoin was born in a financial crisis. It will come of age in this one”. 

In addition, Morehead called BTC a “serial killer” compared to traditional risk assets when the world “freaks out”, suggesting that crypto markets could explode in the coming months

According to the co-founder of Pantera Capital bitcoin is a new technology that will dismantle old systems and end up disrupting “dozens of different industries”, and in a couple of months investors will start focusing on new investment opportunities and the focus on the markets will move away from the panic initially created by the current crisis. 

In fact, he points out that, although bitcoin on the one hand is basically considered as digital gold, on the other, blockchain technology allows keeping records for virtually all assets, including non-financial ones. For this reason, he thinks that this technology will eventually revolutionize many markets. 

In particular, he said: 

“The Internet changed everything, except for finance. What bitcoin is going to do is to bring the Internet to finance”. 

Finally, Morehead revealed that the fund he manages temporarily reduced risks as soon as he realized the magnitude of the COVID-19 pandemic, but that he has already returned to long-term caps on crypto asset exposure in anticipation of significant future increases in value. 

Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".

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