Bitcoin Shortage? Pantera Thinks Market Rally Driven by PayPal Buys

According to Pantera Capital, one of the biggest funds in the crypto fund, the recent rally has been driven by the influx of retail investors buying Bitcoin. Per their projections, PayPal users alone may soon acquire more Bitcoin than there are being mined. Not only is retail interest in Bitcoin increasing, so is billionaire and celebrity interest in the cryptocurrency. Bitcoin Rally Predicated on Increase in Retail Volume: Pantera Capital Bitcoin has seen a strong […]

Bitcoin's supply crunch could be having a dramatic impact on price, according to Pantera Capital. PayPal’s entry into the cryptocurrency market could be having a dramatic impact on the Bitcoin (BTC) price. In a newly published report, crypto investment firm Pantera Capital says a Bitcoin shortage is at the heart of the recent price surge and that the majority of newly minted BTC is being scooped up by PayPal. PayPal’s new crypto service is “already having a huge impact,” Pantera claims, adding that the payment merchant is snatching up roughly 70% of all the new BTC in circulation.Citing....

Bitcoin is being bought en-masse by retail investors amid this strong rally higher, market data shows. Recent analysis found that PayPal’s addition of cryptocurrency purchases could be a key factor behind BTC’s rally to $28,000. Bitcoin Being Bought En-Masse by Retail Investors Pantera Capital CEO Dan Morehead recently shared the chart seen below to his Twitter. Pantera Capital is a leading digital asset investor, with large positions in Bitcoin and many leading altcoins. The chart […]

Despite the recent slump, Pantera believes that most of the growth in the next bull cycle will be generated by DeFi. In an October 6 webinar, Pantera Capital disclosed that their Digital Asset Fund intends to invest more heavily into DeFi assets than the rest of the market. Source: Pantera Capital.Pantera’s co-chief investment officer, Joey Krug said that unlike other funds that allocate most of their portfolios to stores of value like Bitcoin (BTC), his company is prepared to place its primary bet on DeFi:“And so if you look at portfolio construction, we can see that relative to the....

With the price of bitcoin seemingly on the up and up, there's no shortage of conversation on the topic of where the price goes from here. There's seemingly no shortage of optimism, either, with the value of bitcoin up a whopping 18 percent in the past week. Hedge fund Laureate BVI is taking part in that optimism, after issuing a speculative buy rating on the digital currency back in February. "Whenever you have an instrument that trades over 300 million US dollars a day, it must be recognized," says Laureate CEO Peter Tasca, according to Digital Journal. "The digital currency works,....