Pantera Capital chief executive officer Dan Morehead has predicted a 50% chance the price of bitcoin (BTC) will hit $115,000 by August next year.
In a recent letter to investors, Morehead said: “If the new supply of bitcoin is cut in half (with the May 12 halving), all else being equal, the price should rise.”
The cryptocurrency entrepreneur analyzed bitcoin’s year-to-date performance against gold, oil, and private equity financing. He forecasts that BTC will continue to gain against other asset classes, post-halving, as fiat depreciates from stimulus packages.
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