Dan Morehead, founder and managing companion of Pantera Capital Administration, has reiterated his bullish stance on Bitcoin, predicting that the pioneering cryptocurrency may finally command a $15 trillion market cap. Morehead’s feedback got here throughout a latest interview on CNBC’s “Squawk Field,” the place he additionally highlighted Pantera’s unique Bitcoin fund surpassing a 1,000x return since its inception in 2013.
$740,000 Per Bitcoin In April 2028?
In response to Morehead, institutional publicity to crypto continues to be woefully insufficient. He notes that “the median institutional possession of blockchain is zero,” and even trailblazing traders sometimes maintain simply 1–2% of their allocations in digital property. He characterised the chance as large, citing that “95% of monetary wealth has no investments in blockchain in any respect,” which interprets to minimal general publicity—usually a fraction of a p.c.
Reflecting on the early days of crypto, Morehead remembers years of unclear laws deterring establishments from making significant commitments. With Donald Trump to take workplace, he envisions extra supportive frameworks for digital property, hinting that the US authorities may mirror its early internet-era technique: “93% of the [crypto] market cap relies exterior the USA,” he mentioned, underscoring the necessity for home regulatory readability.
When requested about the potential of President-elect Trump establishing a Strategic Bitcoin Reserve, Morehead commented: “I believe there are two variations of that. One is that the president-elect mentioned he is not going to promote the Bitcoins the US already owns. The USA owns 1% of the world’s Bitcoins. That appears simpler to do than getting passage to purchase extra Bitcoins. I believe it’s a nice technique. The US is the reserve forex of the world. We don’t have one other forex to save lots of our reserves in. So saving in Bitcoin can be a terrific strategic transfer.”
Regardless of Bitcoin’s meteoric beneficial properties, Morehead believes there may be room for additional progress, particularly as many giant traders stay skeptical. He recounted elevating solely $1 million throughout 170 investor conferences in 2016—an expertise that strengthened the notion that widespread adoption was nonetheless years away. Now, with mainstream monetary giants providing Bitcoin, Morehead not worries about BTC value going to zero. “50 million individuals within the US, 300 million globally personal it. Blackrock and Constancy are promoting it. It has reached escape velocity,” Morehead remarked.
Trying forward, Morehead outlined a imaginative and prescient of BTC’s market cap reaching $15 trillion, with the worth per coin probably rising to $740,000: “It has gone up three orders of magnitude since we launched our fund, I believe it could possibly go up a fourth. And that places it at a $15 trillion market cap, which nonetheless appears comparatively small in comparison with $500 trillion of monetary property. That’s doable.” In a latest investor notice, Morehead revealed that BTC may attain this goal as early as April 2028.
At press time, BTC traded at $100,000.
Featured picture from YouTube, chart from TradingView.com
