In a letter to investors, Pantera Capital CEO Dan Morehead made a bold prediction: the price of Bitcoin could reach $740,000 by April 2028. This prediction is based on historical trends and positive developments in the cryptocurrency space, especially after Donald Trump, the crypto-supporting president, was elected and the US Congress took a friendlier stance towards digital assets.
Positive Signals From The Market
Morehead noted that with only 5% of global financial assets invested in #Blockchain , Bitcoin still has significant room for growth:
“After 11 years, Bitcoin is still growing strongly like a watermelon being squeezed.”
He also believes that the legal barriers of the past 15 years are gradually turning into momentum for the blockchain and cryptocurrency market.
Impressive Performance From Pantera's Bitcoin Fund
Pantera Capital's Bitcoin fund, launched in 2013, has delivered over 131,000% returns over the past 11 years (excluding fees and expenses). Initially, the fund bought $BTC at $74/token, and currently, the price of Bitcoin has reached approximately $96,300, according to data from CoinGecko.
Although Bitcoin has grown significantly, Morehead still emphasizes that “it is still early” to fully assess the potential of this cryptocurrency. He warns:
“Don't think: ‘Bitcoin has doubled this year, I missed the opportunity.’ That is a wrong thought.”
Conclusion
With increasing acceptance from institutional investors, regulators, and lawmakers, Pantera believes Bitcoin will remain at the center of financial innovation for many years to come. The projected level of $740,000 is not only an ambitious milestone but also reflects a strong belief in the future of this leading digital asset.
