Pantera Capital Founder Projects Bitcoin Market Cap To Soar To $15 Trillion

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As a seasoned analyst with a decade of experience under my belt, I find myself increasingly intrigued by Dan Morehead’s insights on Bitcoin. His bullish stance on Bitcoin and his prediction of a $15 trillion market cap is not only audacious but also backed by a wealth of knowledge and foresight.

Dan Morehead, the founder and main partner of Pantera Capital Management, has once again expressed his optimistic viewpoint about Bitcoin. He believes that Bitcoin, the trailblazing digital currency, might eventually be worth a whopping $15 trillion based on its market capitalization. These comments were made during an interview on CNBC’s “Squawk Box.” Moreover, Morehead pointed out that Pantera’s initial Bitcoin fund has already generated an impressive return of over 1,000 times since its launch in 2013.

$740,000 Per Bitcoin In April 2028?

Morehead states that the involvement of institutions in cryptocurrency is significantly low compared to what it should be. He points out that “the average institutional ownership of blockchain is zero,” and even pioneering investors usually only invest 1-2% of their portfolios in digital assets. He described the potential as enormous, highlighting that “95% of financial wealth doesn’t have any investments in blockchain at all,” which means that there’s little to no investment exposure—usually just a tiny fraction of a percent.

In the past, Morehead reflects on a time when cryptocurrency was still new and the regulations surrounding it were unclear, which discouraged institutions from making substantial investments. Looking ahead with Donald Trump’s presidency, he anticipates a more favorable environment for digital assets as he sees potential in the government adopting strategies similar to those used during the early days of the internet: “A large percentage of the crypto market value is based outside the US,” he stated, emphasizing the importance of establishing clear regulations within our borders.

When questioned about President-elect Trump considering the creation of a Strategic Bitcoin Reserve, Morehead responded: “I believe there are two scenarios for this. One is that the president-elect has stated he won’t sell Bitcoins the U.S. currently possesses, as we own approximately 1% of all existing Bitcoins. It seems feasible to retain these compared to passing legislation for further Bitcoin acquisitions. I find it a smart strategy. The dollar serves as the global reserve currency, and we lack another suitable currency for our reserves. Thus, holding Bitcoins could be an intelligent strategic decision.

Despite Bitcoin’s meteoric gains, Morehead believes there is room for further growth, especially as many large investors remain skeptical. He recounted raising only $1 million during 170 investor meetings in 2016—an experience that reinforced the notion that widespread adoption was still years away. Now, with mainstream financial giants offering Bitcoin, Morehead no longer worries about BTC price going to zero. “50 million people in the US, 300 million globally own it. Blackrock and Fidelity are selling it. It has reached escape velocity,” Morehead remarked.

Moving forward, Morehead envisioned the market capitalization of Bitcoin (BTC) climbing to an astounding $15 trillion, potentially pushing the price per coin up to a staggering $740,000. Morehead expressed his belief that this growth could occur in four stages since launching their fund, stating, “Given its current trajectory, I think it can increase another fourth. This would put its market cap at $15 trillion, which is still a modest figure compared to the $500 trillion of global financial assets. Achievable, I believe.” In his latest investor note, Morehead suggested that this target could be reached as early as April 2028.

At press time, BTC traded at $100,000.

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2024-12-14 03:41