In the words of the CEO of bitcoin investment firm Pantera Capital, Dan Morehead, disruptive technologies usually earn the title ‘category killers’ but in the case of bitcoin it is a ‘serial killer’.
According to Morehead, this is because it will disrupt ‘dozens’ of sectors with the cryptocurrency already having demonstrated the capacity to potentially turn the tables in some sub-sectors in the financial industry.
“It’s great at cross-border money movement… it’s great at storing your wealth especially if you live in a country with depreciating currency or capital controls…” Morehead said in an interview with Bloomberg.
Per Morehead, bitcoin’s best days lie ahead as it will be possible to use it for making everyday transactions such as coffee purchases “over the next decades”. Additionally, Morehead noted that while the popularization of the internet decades ago disrupted various sectors, the financial sector was largely left untouched. Bitcoin will, however, allow users to render banks, credit card and remittance firms obsolete by enabling peer-to-peer transactions.