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DeFi Sector to Reach $400 Billion and Surpass Bitcoin

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DeFi Sector to Reach $400 Billion and Surpass BTC

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CEO of Pantera Capital, Dan Morehead, said that while he was extremely optimistic about bitcoin, the decentralized finance sector (DeFi) would be much more profitable in the coming years. In his view, the DeFi sector is relatively undervalued compared to BTC:

“The market capitalization of bitcoin is about $200 billion and that’s great. But this level has already been reached. Other uses like DeFi are still in its infancy and DeFi’s market capitalization is now about $4 billion. If you compare bitcoin with $200 billion and DeFi with $4 billion, don’t you think the DeFi sector is valued much cheaper?”

derfi to surpass bitcoin value

Morehead launched the Pantera bitcoin fund back in 2013. This was when bitcoin was worth just $104. Morehead is a also a top consult with his experience in crypto investments. He believes that deFi can now surpass the top cryptocurrency and grow by 10,000% in the coming years:

“Our first btc fund has grown by 17,000%. It’s amazing. But, I do not think that now it can be made x100, otherwise the capitalization of bitcoin will be $20 trillion, which is a huge figure when compared to traditional finances. But DeFi can grow to $400 billion and there’s no reason why that can’t happen. I think that small protocols have much more room for growth.”

Morehead has strong belief on the growth of defi over the years. He also considers the probability of bitcoin price growth to an all time high of $1 million:

“I want to say that I have a bullish mood with regard to bitcoin. Its price could rise to $1 million, but it’s x100 from the current rate and then its capitalization will be $20 trillion. Given that the amount of all the money on Earth is only $100 trillion, it does not look very likely.”

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1 Comment

1 Comment

  1. Emmanuel Chigozie

    15/09/2020 at 6:49 am

    This is really amazing.

    How can work know deFi coins to invest in now that it is still within reach?

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