Pantera Capital Exec: Cryptocurrency Market Prices Could Increase Tenfold by 2020
By William Suberg Cryptocurrency markets could increase ten times over from 2020, blockchain investment firm and hedge fund Pantera Capital’s co-CIO told Bloomberg Tuesday, Oct. 16. Speaking in an interview, co-CIO Joey Krug said that scalability improvements for Bitcoin (BTC) were essential to spark a shift in the deflated prices seen throughout this year. He told the network: “These are all markets, and so if you don’t have scalability, you don’t have market makers.” The comments came days after new developments on the institutional trading side of Bitcoin markets, with Fidelity Investments revealing it was testing a regulated custody solution for investors and hedge funds. While reactions from finance figures such as Galaxy Digital’s Michael Novogratz were positive, the news failed to shift market sentiment or prices in Bitcoin. For Krug, this is because sentiment requires signs of adoption of Bitcoin in the current climate, which in turn depends on capacity...