Dan Morehead, the CEO and founder of leading blockchain venture fund Pantera Capital, stated that digital assets will be the “best place” to store capital after the potential fallout from US Federal Reserve interest rate hikes. Investors in the stock and cryptocurrency markets are currently focused on the Fed’s expected response to increasing inflation, which has reached 7.5 percent this month.
However, the Bitcoin and cryptocurrency markets have often moved in parallel with stock market trends. Morehead argued in his Feb. 16 newsletter that bonds, equities, and real estate will bear the brunt of the Fed’s “massive policy U-turn” in terms of raising interest rates. Despite the crypto market suffering a downturn since late 2021, the CEO suggested that digital assets would be the “best place” to store capital during the fallout of the Fed’s actions.
To support his point, Morehead highlighted a previous comment he made during a conference call with investors earlier this month, in which he said that asset classes such as gold and cryptocurrency do not immediately correspond to interest rates in the same way that bonds do.
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