The CEO of digital asset hedge fund Pantera Capital, Dan Morehead, is revealing an “existential risk” that the crypto industry faces.
Morehead says that most of the risks that the crypto industry has encountered since its inception have disappeared but the regulatory risks remain.
“I think the biggest kind of existential risk that I worry about is still regulation.
When we started looking at crypto many years ago, there was a long list of risks you know. A lot of things that could have gone wrong. And most of them have been taken care of. There are great custodians now, the code’s been working for 13 years, all that. So most of the risks are gone.
The only one that’s still really concerning is the regulatory bit and in particular in the United States where there isn’t enough regulatory clarity.”
According to the Pantera Capital CEO, regulatory uncertainty in the US discourages innovation or drives away ideas, entrepreneurs and startups to more friendly jurisdictions.
“It’s [lack of regulatory clarity] either forcing companies and projects to go offshore which is unfortunate. Or it’s hampering innovation because people are afraid of negative consequences.”
Regarding crypto adoption, Morehead says that nearly all smartphone users globally could be using blockchain technology within two to four decades.
“I think we still are very early. And there’s still such a small number of people that are engaged in this. Maybe 200 million people, something like that.
There are three billion people with a smartphone, right? And I think it’s pretty inevitable almost everybody on earth with smartphones could use blockchain in 10 or 20 years.”
IDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
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/studiostoks/S4RT4 Design