Pantera Capital CEO Dan Morehead and 10T Holdings cofounder Dan Tapiero traded conflicting views of the economic recovery at the Real Vision virtual crypto summit Tuesday.
- The crypto space investment chiefs, both “die-hard macro guys,” disagreed on where COVID-19 is leading the economy, with Morehead projecting a “lingering” recession and Tapiero saying he hasn’t been this bullish since 2012.
- They both agreed, however, that this environment will be good for bitcoin.
- Central bankers’ unrelenting money printing may well boost fixed quantity assets, said Morehead. “It just seems inevitable that the global macro tsunami of paper money is gonna float a lot of boats,” he said.
- Both said Paul Tudor Jones’ recent bitcoin advocacy signaled a strong investment opportunity to the markets. Even so, Tapiero said the legendary macro trader still has a ways to go before he grasps bitcoin’s systemic value.
- “We’ve just got to wait until more people adopt [bitcoin] and the network effect increases, and we’re at a good spot to take advantage,” said Tapiero.