Dan Morehead, CEO of Pantera Capital, has shared his views on the current state of the blockchain economy in a recent interview with Real Vision co-founder and CEO Raoul Paul.

According to Morehead, cryptocurrencies are undergoing a similar shift to flex-based risk assets and thus are likely to recover on their own principles. As a result, you will be connected to the macro dynamics in a short period of time.

In a news report, Morehead highlighted that investing in stocks and bonds is becoming more difficult due to high interest rates, unlike blockchain, which can operate on its own without the influence of interest rates. Therefore, the blockchain can continue to operate under its existing structures.

Morehead is optimistic that Bitcoin (BTC) will eventually rise despite experiencing lows earlier in the year. Many tokens are now up, with Ethereum (ETH) up as much as 60% from the lows. He predicted that Bitcoin will go up 10x in the long run despite experiencing pushback from users due to the dominance of other tokens.

“Blockchain is one of the most exciting businesses in the world today,” says Morehead. Decentralized finance (DeFi) is currently worth $20 billion, while traditional finance is worth $3 trillion. DeFi could eventually do things that are not covered by traditional finance.

Ethereum and the merger

Morehead thinks that Ethereum transition from proof-of-work to proof-of-stake via merger is a big step for the blockchain industry.

He claimed that Ethereum prices were drifting previously, but started rising after a date for the Merger was scheduled. Institutions will find it easy to understand the proof-of-stake model because it is similar to how corporate governance works.

There could also be the risk of experiencing downsides if the Merger does not go as planned in terms of regulatory laws that are not very clear, particularly in the US, this could impede innovation and cause companies to go abroad. ”The biggest risks are gone now because they’ve been taken care of for the last 13 years,” says Morehead.

Blockchain is set to become an asset class where everyone will have a blockchain team and a blockchain assignment.

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