“Bitcoin price to reach $740,000”

Dan Morehead stated that the coming year will be very positive for Bitcoin and expressed his price target.

Dan Morehead, founder and director of Pantera Capital, predicted in an interview with CNBC that 2025 will be a big year for Bitcoin and stablecoins. The cryptocurrency-focused hedge fund manager stated that institutional investors will flock to the sector.

Morehead stated that most institutions are not currently focused on blockchain technology. However, he thinks that the crypto sector can grow significantly as this situation changes. Leading asset management company BlackRock recently offered investors 1-2 percent $BTC in their portfolios. Galaxy CEO Mike Novogratz called the proposal a “big moment” for crypto.

Pantera Capital has large positions not only in Bitcoin but also in other popular altcoins such as Toncoin ($TON ) and Solana ($SOL ). Morehead predicts that the Bitcoin price could reach $740,000 in the long term. Although this target seems far-fetched for now, positive data from BTC halvings and spot ETFs gives hope for the long term.

According to a forecast by Bitwise, BTC ETFs could attract more investment in 2025 than in 2024. Morehead said that the number of investors turning to Bitcoin has increased significantly compared to last year.

Morehead also stated that there is nothing remarkable about Bitcoin doubling its value this year. “#Bitcoin has performed this way every year for 11 years on average,” Morehead said, expressing that Pantera Capital is hopeful for the crypto sector.