Pantera Capital has predicted that Bitcoin could reach $740,000 by April 2028. The firm recently announced a milestone for its Bitcoin Fund, which achieved significant returns.
The fund's lifetime performance is now 131.165%, net of all fees and expenses.
Pantera Capital’s Bitcoin Fund Has Been Returning High Profits
Launched in 2013, Pantera’s Bitcoin Fund was one of the first investment vehicles in the US to offer exposure to Bitcoin. At the time, Bitcoin was trading at $74,000. The firm took advantage of this and acquired 2% of the global Bitcoin supply.
However, BTC hit the $99,000 mark earlier this month, meaning that the return on Pantera’s initial 2013 investment is now worth over 1,000%.
“Bitcoin dominates cash, fiat e-money, gold, bearer bonds, big slabs of stone, etc. It can do all the things that each of these can do. It is the first global currency since gold. It is the first borderless payment system ever,” wrote Dan Morehead of Pantera Capital in the latest release.
Pantera Capital previously projected that the price of Bitcoin would reach $117,000 by 2025.
Meanwhile, the firm has been exploring new crypto alternatives outside of Bitcoin. The firm’s new venture, Pantera Fund V, aims to diversify its portfolio with investments in blockchain assets.
The fund has been looking at private tokens and opportunities such as Solana tokens locked from FTX’s estate. Pantera also raised funds in June to expand its stake in Toncoin.
BTC faces correction after month-long rally
Despite hitting record highs in November, Bitcoin’s price has fallen 6% in recent days. Weaker demand among U.S. investors has contributed to the decline, as highlighted by the Coinbase Premium Index.
Meanwhile, Bitcoin ETFs have seen buoyant demand. On November 25, they saw a net outflow of $438.38 million after five consecutive days of inflows totaling $3.5 billion.
US Bitcoin ETF weekly net inflows from October to November. Source: SoSoValue
While Bitcoin’s realized profits have fallen from $10.58 million to $1.58 million, this reduction in selling pressure could indicate room for future price growth.
Additionally, the average holding time of Bitcoin has increased by 65% over the past week, suggesting stronger conviction among investors and reinforcing a positive outlook.
While the market remains volatile, Pantera’s long-term forecast reflects confidence in Bitcoin’s growth potential as the leading cryptocurrency continues to attract institutional interest.
The article Pantera Capital Predicts Bitcoin to Hit $740K by 2028 appeared first on BeInCrypto Brazil.
