The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Crypto Hedge Fund Titan Reveals Bitcoin Trading Strategy, Says BTC, Ethereum and XRP Poised to Challenge US Dollar

by Daily Hodl Staff
April 26, 2020
in Altcoins, Bitcoin

Dan Morehead, chief executive of crypto investment firm and hedge fund Pantera Capital, says leading digital assets like Bitcoin (BTC), Ethereum (ETH) and XRP will challenge the supremacy of the US dollar in the long run.

In the latest episode of Real Vision Finance with macro investor Raoul Pal, Morehead describes the current economic backdrop that he believes may spell the beginning of the end of US dollar dominance.

“In the fiscal policy, we’ve seen a 10% of GDP stimulus signed days before a new stimulus plan has been talked about. These are just numbers that are literally off the charts. I think it is almost certain that the United States is going to exit this crisis with more debt than after the battle against the Great Depression or World War II.”

[the_ad id="93550"]

Morehead points out that the change from the dollar to a new reserve currency will happen over the course of many years.

“It’s a fact of the world that the dollar is the reserve currency right now. That’s changed every 80 or hundred years over the last six centuries…

I do think in the long run, and this is decades, cryptocurrencies will become reserve currencies, whether it’s Bitcoin or Ethereum or Ripple. Ultimately, some of those will be reserve currencies but governments are very slow to change and so I think that’s a 10 to 20-year, very slow progression.”

When asked which cryptocurrencies have staying power, the crypto investment firm executive says that only a handful of tokens will make the cut.

“I think there’s going to be a single-digit of very important blockchains…

It’s already starting to shape up where you’re seeing Bitcoin not really changed very much but being really good at storing wealth… You see Ethereum be really dynamic, and they’ve already got Ethereum 2.0… Then Ripple’s taken an enterprise SaaS version of this and trying to work with all the banks… I think there’s space for eight to 10 of those use cases in the long, long run.”

Morehead also expects a resurgence in crypto after institutional investors assess the damage and see that the current economic crisis brings new opportunities.

As for the current crypto strategy at Pantera, Morehead says the firm has temporarily sold a significant portion of its altcoin holdings for the short term, expecting Bitcoin to lead a comeback within a year.

“The only conclusion we can come to for cryptocurrency is that in the six to nine-month time frame it’s going to be very positive.”

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/viktorov.pro

Submit a Press Release

Industry Announcements

  • Bunzz Raises $4.5 Million Seed Round To Expand Its Smart Contract Hub for DApp Development
    January 24, 2023
  • Dogecoin and Shiba Inu Better Watch Out – Floki Just Had Three Big Things Happen for It
    January 24, 2023
  • Crypto Marketing – What Initiatives Will Bring More Value and Users in 2023
    January 23, 2023
  • Make Crypto Payments on BChat Web 3.0 Messenger – BChat Integrates Beldex Wallet
    January 22, 2023
  • KEY3.id Supports Multi-Chain Transaction, Partnership With KuCoin Wallet, CoinHub Wallet and Wallet3 To Launch 2023 Lucky Transaction Campaign With Over 30,000 Participants on Social
    January 20, 2023
  • Deposit EUR/GBP at Zero Percent Fees With Newly Launched SEPA/FPS Channels on Bitget
    January 19, 2023
  • Coinbase Lists Kava, Advancing Ethereum–Cosmos Interoperability
    January 18, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$23,105.19
$23,105.19
1.33%
Ethereum
$1,597.47
$1,597.47
1.63%
Cardano
$0.389393
$0.389393
4.36%
XRP
$0.412401
$0.412401
1.43%
Dogecoin
$0.087631
$0.087631
3.17%

Spotlight

  • Bankrupt Crypto Lender Genesis Owes Over $3,800,000,000 to Firm’s Largest 50 Creditors
    January 23, 2023
  • Several Low-Cap Altcoins Are Quietly Witnessing Major Inflows After Impressive Returns on Larger Crypto Assets: Santiment
    January 26, 2023
  • Bitcoin (BTC) Recovery Unlikely To Be Easy, Warns Bloomberg Strategist Mike McGlone – Here’s Why
    January 20, 2023
  • Dogecoin (DOGE) Could Be on the Verge of a Big Breakout, According to Popular Crypto Strategists
    January 24, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl