Pantera CEO Thinks Crypto Market Could Reach $40 Trillion, Calls Bitcoin "Screaming Buy"

Pantera Capital, a blockchain investment fund, has issued its most brazen show of positive sentiment to date, its founder stating the cryptocurrency market could one day reach $40 trillion.

A vocal proponent of blockchain technologies and cryptocurrencies, Pantera Founder and CEO, Dan Morehead, has been ramping up his positive rhetoric in a recent series of exclusives with Bloomberg.

Pantera appears to see Bitcoin as a part of this bountiful future, holding roughly 10% of its assets in BTC, or what it refers to as a "Screaming buy".

In this light, Pantera's comments cannot be taken as gospel truth - the fund limping out of a near-50% loss in March's ruinous bear market.

As one of the world's largest cryptocurrency hedge funds, Pantera has nearly a colossal interest at stake.

While Pantera Capital Management LP may be dealing in an unconventional asset class, the blockchain investment fund appears to be remarkably orthodox where it counts.

Morehead leads the charge after a peppering of dealings in the traditional finance market: Goldman Sachs, Deustche Bank, and Tiger Management - where he presided over a veritable financial feast - namely Forex, Derivatives and Macro Trading.

After Pantera's devastating loss in March, Morehead offered his investors the eternal confidence of a battle-hardened trader.

Such statements are at odds with Pantera's prophecy of a $40 trillion market cap, perhaps the slightest inklings of a hidden agenda - given Morehead's apparent indifference to the market's longevity.

All interests aside, the weight of this statement highlights a more pressing issue: who do we trust? As Pantera continues to establish itself as a prophet in this space, we must pause to look at the growing divide in media coverage.