🚀 Dan Morehead Projects Bitcoin to Reach $740,000
posted 26 Nov 2024
The founder of Pantera Capital, Dan Morehead, asserts that Bitcoin is only at the start of its ascent, with its value potentially climbing to $740,000.
The founder of Pantera Capital, Dan Morehead, asserts that Bitcoin is only at the start of its ascent, with its value potentially climbing to $740,000.
At its inception, Bitcoin traded for just $74. Today, its price hovers around $92,000, following a brief spike near $100,000. In 2024 alone, BTC has risen by an impressive 120%.
Morehead projects a future Bitcoin price of $740,000, contingent on the departure of Gary Gensler from his regulatory position.
The fund aspires to raise $1 billion, building on the legacy of the Pantera Bitcoin Fund, which amassed $1.25 billion over two years ago.
Dan Morehead credited their fortunate timing, noting that establishing the fund just before the 2022 crypto market crisis allowed them to secure top-tier investment opportunities.
Throwing his weight behind Trump’s call for a national Bitcoin reserve, Dan Morehead criticized gold as outdated for wealth storage.
The anticipated softening of crypto regulations under Donald Trump’s presidency is, in Morehead’s opinion, the single most crucial factor—a scenario he deems almost certain.
Dan Morehead, Founder and Managing Partner of Pantera Capital Source: Bloomberg
Morehead remains bullish, arguing that the overwhelming doubt surrounding crypto is a positive sign, as markets typically stray from the crowd’s expectations.
There are still a lot of people very negative. And that’s why I’m so bullish... It’s far from being a bubble,Morehead stated.
The Pantera Bitcoin Fund has made history as the first U.S. fund to grant investors access to Bitcoin, boasting a staggering 132,118% return since 2013. The magic behind this performance? Bitcoin’s remarkable journey.
At its inception, Bitcoin traded for just $74. Today, its price hovers around $92,000, following a brief spike near $100,000. In 2024 alone, BTC has risen by an impressive 120%.
Morehead projects a future Bitcoin price of $740,000, contingent on the departure of Gary Gensler from his regulatory position.
15 years of regulatory pressure is now turning into support,Morehead emphasized in an investor letter.
Pantera Capital is expanding its portfolio with Pantera Fund V, aimed at investments in blockchain-related assets. The fund will target private tokens and locked holdings from the FTX collapse, including tokens like SOL.
The fund aspires to raise $1 billion, building on the legacy of the Pantera Bitcoin Fund, which amassed $1.25 billion over two years ago.
Dan Morehead credited their fortunate timing, noting that establishing the fund just before the 2022 crypto market crisis allowed them to secure top-tier investment opportunities.
Throwing his weight behind Trump’s call for a national Bitcoin reserve, Dan Morehead criticized gold as outdated for wealth storage.
If they put some of that money in Bitcoin, that is a fantastic way to have a reserve currency holding and I think it’s going to appreciate a lot over the years,he commented.
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