Pantera Capital backs Bitcoin to reach $100K

• Pantera Capital had predicted that Bitcoin would hit $115,000 by August 2021. 
• BTC would require a 900% annual growth rate to reach this target in one year.
• Pantera founder, Dan Morehead, believes that Bitcoin will hit the $100K mark in two years.

In a recent interview, Dan Morehead, the founder of Bitcoin investment firm Pantera Capital, mentioned an investment letter published by the company. According to this letter, Pantera has predicted that Bitcoin will hit $115,000 by August 2021. This prediction is based on the stock-to-flow model. 

Morehead said that he still believes that the prediction could come true, even if that means that BTC will have to surge by its present value by nearly ten times. However, he added that his personal prediction is a bit more modest. 

My common response is it’s been growing at 209% for nine years, I think it’s going to grow at least 209% over the next couple years and that puts you at $100 000, probably in two years; but I do think that will happen.

If BTC continues to scale at 209% annually, then it will reach the $100,000 mark in 1.92 years. The coin would require a 900% annual growth rate to reach $115,000 in just one year. The founder further noted that he is tired of cynics who continuously ask what “Bitcoin’s killer app” is. In his opinion, Bitcoin itself is the killer app and its primary use case is a store of value. 

BTC/USD bulls are currently recovering the price following four straight bearish days. It’s presently priced at $11,569. You can read up our price forecast report here.