Pantera Capital: Bitcoin Could Reach $740,000 in 2028!
Bitcoin has surged 120% this year, reaching $99,000, but has recently fallen 6% as demand in the U.S. has waned. Despite this, the long-term holding strategy and the decrease in selling pressure still point to a bullish outlook for Bitcoin. Pantera Capital predicts that Bitcoin could reach $740,000 by 2028. The company also announced that its Bitcoin Fund has delivered 1,000x return on investment to date.
Launched in 2013, the Pantera Bitcoin Fund was one of the first Bitcoin investment vehicles in the US. At the time, the price of Bitcoin was just $74. Seizing the opportunity, Pantera purchased 2% of the global Bitcoin supply. Today, the price of Bitcoin has reached $99,000, meaning Pantera has made over 1,000% return on their initial investment.
“Bitcoin has the potential to replace cash, electronic fiat money, gold and other valuable assets. As the first global currency since gold, it has already become the first cross-border payment system,” Pantera Capital CEO Dan Morehead said.
Pantera Capital had previously predicted that Bitcoin would reach $117,000 by 2025. However, according to their latest statement, Bitcoin is expected to reach as high as $740,000 by 2028. This prediction shows confidence in Bitcoin’s growth potential.
Aside from Bitcoin, Pantera Capital continues to invest in new crypto projects. The firm’s latest venture, Pantera Fund V, aims to diversify its portfolio by investing in blockchain assets. The fund is looking at opportunities such as custom tokens and Solana tokens locked from FTX’s property. Pantera also raised funds in June to expand its Toncoin holdings.
Bitcoin, which reached record levels in November, has lost 6% of its value in recent days. This decline was due to weak demand, especially from US investors. According to the Coinbase Premium Index, demand in the US has decreased. In addition, demand for Bitcoin ETFs has also fluctuated. On November 25, after a total inflow of $3.5 billion for five consecutive days, there was a net outflow of $438.38 million from Bitcoin ETFs.
Bitcoin’s realized profit fell to $1.58 million from $10.58 million on Monday. However, this reduction in selling pressure could create potential room for price appreciation in the coming periods. In addition, the average holding period for Bitcoin increased by 65% last week, indicating strong confidence among investors and a positive market outlook.
While the market continues to be volatile, Pantera Capital’s long-term forecast reinforces confidence in Bitcoin’s growth potential. The firm predicts that Bitcoin continues to gain institutional interest and will experience significant value appreciation in the future. This is considered a promising signal for investors regarding Bitcoin’s future performance.