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Bitcoin Investing Giant Slams Bond Markets as a ‘Ponzi Scheme’

Dan Morehead

Dan Morehead

Photographer: David Paul Morris/Bloomberg
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Dan Morehead, the chief executive officer of Pantera Capital and longtime macroeconomic investor, sounded an alarm on what he called bubbles created by the Federal Reserve’s efforts and says digital assets should be bought instead. 

Bond investors “are going to get absolutely destroyed when the Fed stops manipulating the bond market,” he said in a note on Tuesday. Morehead argued that Bitcoin and crypto assets could be a hedge as bubbles in debt markets begin to pop.