It’s gotten a little bit dizzying trying to keep track of the various investment experts offering their takes on bitcoin. The leading cryptocurrency has spiked so much of late that seemingly everyone with any kind of stake in it (or with a significant stake in financial markets in general) seems to be trying to get a word in. The most recent example comes via Dan Morehead, the founder and CEO of Pantera Capital, who’s likely sitting on a cryptocurrency fortune right now. He bought bitcoin when it was at just $72, and recently indicated that he foresees more long-term growth.

To be clear, Morehead is having it both ways a little bit. While a lot of people (like Warren Buffett) are predicting a crash, and some others (like the Winklevoss twins) see lucrative rises on the horizon, Morehead is perhaps being a little more logical, and avoiding extremes. He believes bitcoin will soon crash back to where it was before the late-2017 surge, but that a year from now it’ll be higher than it is at this moment. The interesting way in which he phrased it was that we’re in “the first innings of a multi-decade thing.”

So, for Morehead’s prediction to come true, what has to happen in the bitcoin markets? This is the million-dollar question (at least). One thing that’s increasingly clear, however, is that more people will have to begin treating bitcoin as an asset. Currently, we’re still seeing bitcoin usage expanding, in the sense that more stores are accepting it (and other cryptocurrencies) as payment. A growing number of ecommerce sites are also beginning to accept bitcoin, meaning people have more opportunity to actually use it. That said, Morehead is among those treating bitcoin more as “digital gold,” as has become the common phrase. It’s likely that for the crytpocurrency to have the kind of long-term growth the Pantera CEO is buying into, more people will have to adapt this mentality. It needs to be purchased and held as a long-term asset, rather than obtained for the purpose of excha nge.

Maybe even more important however will be the continued growth of the market as it relates to ordinary consumers and investors. One article on the various reasons bitcoin is continuing to grow discussed exchanges, “new financial tools and products,” and new hubs – all of which help to make the bitcoin market clear and accessible for traders. We’re seeing a growing number of apps and programs that make bitcoin dealing incredibly easy, and as these become more mainstream, more individuals will feel comfortable buying into cryptocurrencies. This could help to supplement the significant investment potential form wealthy individuals, who may ultimately represent the most lucrative potential in the bitcoin world.

Really though, there’s no telling where this is all going. As stated, important figures in the investment world have opinions across the spectrum, to the point that it can be difficult to make sense of them all. Morehead is the latest voice in favor of long-term growth, however, and the ideas above are some of the ways his prediction could conceivably come true.

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