Jun 30, 2020 at 16:30 UTCUpdated Jun 30, 2020 at 16:36 UTC
The unrelenting brrrr of central bank money printers can only be good for bitcoin, said Dan Morehead. (Syda Productions/Shutterstock)
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 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 that 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.
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