Dan Morehead, CEO of Pantera Capital, he is a strong supporter of Bitcoin and a well-known macroeconomic investor. Besides defending Bitcoin, Morehead is also a big critic of the traditional sector and he recently attacked the Bond market, stating that this type of investment is a Ponzi scheme.
As shown by Bloomberg, Morehad spoke about the Bond Market and the risks it brings because of bubbles created by the US Federal Reserve. For the CEO of Pantera Capital, the best solution to avoid this “Ponzi Scheme” would be investing in cryptocurrencies.
For the executive, investors who are buying bonds “They’re going to end up absolutely destroyed when the Fed stops manipulating the bond market.”
“Governments should stop obsessing about Bitcoin and look at themselves. The biggest Ponzi scheme in history is the US government and the Bond and Mortgage markets. 33 trillion dollars, all being taken by a non-economic actor with a dominant position who is trading on the basis of material private information.” , stated morehead.
It is noteworthy that Pantera’s CEO is not the first to link Central Banks and their policies to Ponzi and Pyramids schemes, even those who are not so much in favor of Bitcoin or do not believe in its potential as a store of value, as is the case with Scott Minard of Guggenheim Investments, who warned that central banks are a Ponzi scheme that must collapse.
This is not an uncommon opinion, especially within the cryptomarket. Bitcoin analysts and supporters always warn about how the Central Banks just print money constantly and without limits, which leads to runaway inflation. The solution then is to bet on something controlled in its supply, but without limits in its borders.
“The Bitcoin market is too big to be manipulated. Bitcoin trades are carried out at hundreds of brokers in dozens of countries. The daily volume of Bitcoin is 1,000 times greater than that of GameStop, which is traded only in a single country.”, concludes the CEO of Pantera Capital.