Pantera's Vision: Bitcoin Fund Predicts $740,000 By April 2028
As Bitcoin (BTC) prices fell on Tuesday, Pantera Capital founder and managing partner Dan Morehead voiced confidence about the cryptocurrency's future. In a recent interview, he said that market issues may be transitory and the rise may continue.
Bullish Bitcoin Future With Regulatory Changes Pantera Capital's path since starting its Bitcoin fund 11 years ago, Morehead admitted 2013 pessimism. “People totally thought we were crazy in 2013,” he said, recalling Bitcoin's negative reputation.
According to the CEO, this pessimism strengthens his bullishness. “So many people are negative. It's not a bubble," Morehead told Bloomberg.
Pantera's Bitcoin fund has returned 132,118% since July 2013, when Bitcoin was around $74. Due to regulatory changes, Morehead says Bitcoin might reach $740,000.
Morehead noted the transition from “15-year regulatory headwinds to tailwinds,” referencing President-elect Donald Trump's possible crypto-friendly policies.
The Pantera Bitcoin fund was the first to provide US investors direct exposure to the cryptocurrency. Bitcoin is up 120% this year, trading about $91,000 after approaching $100,000 last week.
Supporting Crypto Reserves
Morehead mentioned Pantera Fund V, a $1 billion venture fund that would invest in blockchain assets including private tokens and “special opportunities” such locked Solana (SOL) tokens from the FTX estate.
“Fortunately, we raised the big fund right before the industry-wide blowups in 2022,” Morehead said, allowing them to spend cash successfully in recent years.
The company's founder said that many “generalist firms” had left cryptocurrencies, reducing competition. Pantera Capital has apparently gotten “better pricing and more advantageous deals.”
