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ThecoinrepublicUncategorizedDon Morehead, CEO of Pantera Capital is...
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Don Morehead, CEO of Pantera Capital is optimistic about Blockchain growth despite bearish market

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  • Morehead is bullish on Blockchain
  • Apparently, the fundamentals are strong, just like Apple and Amazon
  • Regulatory ambiguity and a bearish season remains

Blockchain fundamentals key to growth

In an interview with a finance news firm on September 22, the venture capitalist said that the new technology will grow despite poor market conditions. Comparing Blockchain with Amazon and Apple, he emphasized that Blockchain would continue growing because of its fundamentals:

“Like any disruptive thing, like Apple or Amazon stock, there are short periods of time where it’s correlated with the S&P 500 or whatever risk metric you want to use. But over the last 20 years, it’s done its own thing. And that’s what I think will happen with blockchain over the next ten years or whatever, it’s going to do its own thing based on its own fundamentals.” 

Panera Capital is a hedge fund focusing on Cryptocurrency. It raised $1.3 billion in the capital in the first quarter of this year to fund DeFi and gaming projects; and enhance scalability. “We’ve been very focused on DeFi the last few years, it’s building a parallel financial system. Gaming is coming online now and we have a couple hundred million people using blockchain. There’s a lot of really cool gaming projects, and there still are a lot of opportunities in the scalability sector,”

M&A deals growing at a tepid pace but things may change

$2.7 billion in Mergers and Acquisitions or M&A deals tanked this year. The last one was Bolt dropping plans to acquire Wyre, a Crypto based payment infrastructure company. According to Crunchbase, 16 M&A deals were announced in the first quarter of the year; however, since then, only 4 were announced.

While some of the largest crypto companies have filed for bankruptcy, VCs may be looking for such developments to make sweet deals. For instance, FTX CEO Sam Bankman Fried told CNBC in an interview that the exchange’s investment treasury had $1 billion for acquisitions and rescue buy-outs. Coinbase President Emilie Choi said in the exchange’s quarter 2 said the company was looking forward to M&As.

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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Andrew Smith
Andrew Smith
Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
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