Pantera Capital Said “Now is the Time to Buy” For Bitcoin

Dan Morehead, CEO of Pantera Capital, stated that Bitcoin is in an uptrend and considering the trends in its 11-year history, it is now quite cheap.

Pantera Capital said that “now is the time to buy” for Bitcoin. Dan Morehead, CEO of Pantera Capital, which started the first Bitcoin-based investment fund in the USA, evaluated the current situation in Bitcoin in the company investor letter and social media account. Morehead stated that Bitcoin is in an uptrend and considering the trends in its 11-year period, it is now quite cheap. Pantera Capital, a Bitcoin-based fund since 2013, has given its investors more than 79,400 percent gains since then. Dan Morehead, CEO of Pantera Capital, which currently manages $4.8 billion in assets, said he believes it is a good time to buy BTC.

“Don't Sell If The Market Is Under The Trend...”

Evaluating the market in the company's customer letter, Morehead said, “When the market is below the trend, go against the emotions that influence you to sell and buy.”

“Now is the Time to Buy”

Supporting his evaluations in the customer letter through his social media account, the CEO said, "I am speaking for new investors. Best to buy when the market is below the trend. Now is one of those times. Looking at the trend movements of Bitcoin in the last 11 years, it has never been this cheap.”

“Wall Street Suggests Its Customers To Buy Bitcoin”

Giving an interview to Bloomberg and stating that the uptrend in Bitcoin is at the lower levels, Morehead continued as follows: “Bitcoin is still well below its 10-year growth trend. We are not in an area where a bubble is inflated or an asset is overpriced. Big firms and investment experts on Wall Street offer their clients to buy Bitcoin. Institutions not named Tesla are buying Bitcoin. This trend, which will last for decades, is just getting started. We have a long way to go”