🪙 In 2013, Pantera Capital CEO Dan Morehead wrote a letter that became a symbol of confidence in BTC, despite its volatility.

On May 28, 2013, $20 million could buy 156,000 BTC, and on July 5, the same amount allowed you to buy 308,000 BTC due to the fall in the rate. Then Morehead said:

“I plan to buy 30,000 #BTC at the current price of $65 per coin this weekend.”

Pantera Capital subsequently earned more than 1,000 times its profit on early investments in Bitcoin. However, even such successful investors as Morehead did not hold the entire volume of the asset until the peak values. If he had kept all of his BTC, his net worth would have exceeded $27 billion. However, most of the portfolio was sold a few years later, and as of 2023, Morehead's personal net worth is estimated at less than $1 billion.

Volatility has proven challenging even for professionals.