{"id":34116,"date":"2020-12-28T18:55:02","date_gmt":"2020-12-28T16:55:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=34116"},"modified":"2025-08-28T17:10:25","modified_gmt":"2025-08-28T14:10:25","slug":"pantera-capital-ceo-bitcoin-rose-on-private-investor-demand","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/pantera-capital-ceo-bitcoin-rose-on-private-investor-demand\/","title":{"rendered":"Pantera Capital CEO: Bitcoin rose on private-investor demand"},"content":{"rendered":"<p>The emergence of new ways for retail investors to buy Bitcoin has led to a surge in demand, says Dan Morehead. According to Pantera Capital&#8217;s chief, only PayPal users buy more coins than miners mine.<!--more--><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">When <a href=\"https:\/\/twitter.com\/PayPal?ref_src=twsrc%5Etfw\">@PayPal<\/a> went live, volume started exploding. The increase in itBit volume implies that within two months of going live, PayPal is already buying more than 100% of the new supply of bitcoins.<a href=\"https:\/\/twitter.com\/hashtag\/bitcoinshortage?src=hash&#038;ref_src=twsrc%5Etfw\">#bitcoinshortage<\/a><\/p>\n<p>Read: <a href=\"https:\/\/t.co\/fb4d1xNxqx\">https:\/\/t.co\/fb4d1xNxqx<\/a> <a href=\"https:\/\/t.co\/yxQNAhsWJZ\">pic.twitter.com\/yxQNAhsWJZ<\/a><\/p>\n<p>\u2014 Dan Morehead (@dan_pantera) <a href=\"https:\/\/twitter.com\/dan_pantera\/status\/1343287213807738880?ref_src=twsrc%5Etfw\">December 27, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The head of Pantera Capital cited a recent <a href=\"https:\/\/panteracapital.medium.com\/bitcoin-demand-3x-supply-ce3a4e05d541\" target=\"_blank\" rel=\"noopener noreferrer\">report<\/a> by the company, in which Bitcoin&#8217;s price prospects are viewed through the prism of supply and demand.<\/p>\n<blockquote>\n<p>\u201cOver the last seven months we have had two huge shifts \u2014 in demand and supply \u2014 both toward higher prices.\u201d<\/p>\n<\/blockquote>\n<p>The rise in demand in the report is explained by the involvement of payment companies such as PayPal and Square in the crypto industry. The availability of buying cryptocurrencies lifts the demand curve. At the same time, Bitcoin issuance halved after the halving in May.<\/p>\n<div id=\"attachment_120841\" style=\"width: 710px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-120841\" class=\"wp-image-120841 size-full\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image2-241.png\" alt=\"CEO Pantera Capital: \u0431\u0438\u0442\u043a\u043e\u0438\u043d \u0432\u044b\u0440\u043e\u0441 \u0431\u043b\u0430\u0433\u043e\u0434\u0430\u0440\u044f \u0441\u043f\u0440\u043e\u0441\u0443 \u0447\u0430\u0441\u0442\u043d\u044b\u0445 \u0438\u043d\u0432\u0435\u0441\u0442\u043e\u0440\u043e\u0432\" width=\"700\" height=\"393\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/image2-241.png 700w, https:\/\/u1f987.com\/wp-content\/uploads\/image2-241-300x168.png 300w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p id=\"caption-attachment-120841\" class=\"wp-caption-text\">Data: Bitcoin Demand = 3x Supply \/ Pantera Capital.<\/p>\n<\/div>\n<p>A supply reduction (S -> S halving) while demand increases (D -> D PayPal) naturally leads to a higher price for the asset.<\/p>\n<blockquote>\n<p>\u201cOur previous letter to investors we called \u2018Bitcoin Shortage\u2019. And the price is behaving accordingly to the shortage,\u201d Morehead writes.<\/p>\n<\/blockquote>\n<p>The report states that the number of active Bitcoin users is steadily growing. As the number of users grows from 10,000 to 100,000, the price rose and became less volatile.<\/p>\n<blockquote>\n<p>\u201cThe price rose because a million people owned Bitcoin. Every couple of years the number of people using Bitcoin grows tenfold. So does the price.\u201d<\/p>\n<\/blockquote>\n<div id=\"attachment_120842\" style=\"width: 710px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-120842\" class=\"wp-image-120842 size-full\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/image1-386.png\" alt=\"CEO Pantera Capital: \u0431\u0438\u0442\u043a\u043e\u0438\u043d \u0432\u044b\u0440\u043e\u0441 \u0431\u043b\u0430\u0433\u043e\u0434\u0430\u0440\u044f \u0441\u043f\u0440\u043e\u0441\u0443 \u0447\u0430\u0441\u0442\u043d\u044b\u0445 \u0438\u043d\u0432\u0435\u0441\u0442\u043e\u0440\u043e\u0432\" width=\"700\" height=\"\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/image1-386.png 700w, https:\/\/u1f987.com\/wp-content\/uploads\/image1-386-300x159.png 300w\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" \/><\/p>\n<p id=\"caption-attachment-120842\" class=\"wp-caption-text\">Data: Bitcoin Demand = 3x Supply \/ Pantera Capital.<\/p>\n<\/div>\n<p>Morehead invites us to imagine how high the price could rise with Bitcoin daily used by billions of users. Pantera Capital&#8217;s optimism stems from PayPal&#8217;s involvement and the number of PayPal users.<\/p>\n<p>Co-founder and CEO of Blockstream Adam Back supports Morehead&#8217;s view.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">So $25k* on 25th, three new ATHs $24.7, $24.8 and $25k in a day. You think institutions did that? On Christmas day? Retail did it \u2014 only people near a keyboard.<\/p>\n<p>(*$25k if you pick <a href=\"https:\/\/twitter.com\/Bitstamp?ref_src=twsrc%5Etfw\">@bitstamp<\/a> or <a href=\"https:\/\/twitter.com\/krakenfx?ref_src=twsrc%5Etfw\">@krakenfx<\/a> tho not quite on <a href=\"https:\/\/twitter.com\/bitfinex?ref_src=twsrc%5Etfw\">@bitfinex<\/a>) <a href=\"https:\/\/t.co\/6PmiEcdn7v\">pic.twitter.com\/6PmiEcdn7v<\/a><\/p>\n<p>\u2014 Adam Back (@adam3us) <a href=\"https:\/\/twitter.com\/adam3us\/status\/1342783806827278341?ref_src=twsrc%5Etfw\">December 26, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p>\u201cLocal highs of $24 700 $24 800 and $25 000 [on Christmas Day] December 25. Do you think these were institutional investors? On Christmas? Retail \u2014 people at keyboards.\u201d<\/p>\n<\/blockquote>\n<p>On November 12, PayPal announced that it opened access to Bitcoin and several altcoins for its American customers.<\/p>\n<p>On December 2, from a survey <a href=\"https:\/\/u1f987.com\/en\/news\/65-of-paypal-customers-willing-to-use-bitcoin-as-a-payment-method\">it became known<\/a>, that 65% of PayPal customers are willing to pay with Bitcoin for goods and services.<\/p>\n<p>Subscribe to the ForkLog channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The emergence of new ways for retail investors to buy Bitcoin has led to a surge in demand, says Dan Morehead. According to Pantera Capital&#8217;s chief, only PayPal users buy more coins than miners mine.<\/p>\n","protected":false},"author":1,"featured_media":34117,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1138,1296],"class_list":["post-34116","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-opinions","tag-pantera-capital"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34116","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=34116"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34116\/revisions"}],"predecessor-version":[{"id":34118,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/34116\/revisions\/34118"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/34117"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=34116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=34116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=34116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}