Cryptocurrency Veteran: Bitcoin Is Still Far From a Bubble

Dan Morehead, one of the early professional investors in Bitcoin and CEO of cryptocurrency fund Pantera Capital, stated in an interview on Tuesday (the 26th) that Bitcoin's record surge may just be beginning. He mentioned that although many people hold pessimistic views, the current price level is still far from a bubble.

In a letter to investors on Tuesday, Morehead predicted that Bitcoin's ultimate price could reach $740,000, as the regulatory headwinds for this cryptocurrency that have lasted for 15 years are turning into tailwinds. He pointed out that the incoming Trump administration's increasingly positive attitude towards cryptocurrencies is one of the strong catalysts driving the price up.

It is understood that Morehead's cryptocurrency fund Pantera has generated a return of 132,118% since 2013. Additionally, he stated that his newly established venture fund Pantera Fund V is seeking to invest in some assets related to blockchain, including private tokens and special opportunities like Solana, which is locked in FTX assets.

Notably, he believes that the U.S. government's reserve holding of gold is "an incredibly absurd and crazy way to store wealth," suggesting that putting a portion of funds into Bitcoin is an excellent way to hold reserve currency, as Bitcoin is expected to rise significantly in the coming years.

The most dazzling thousand-fold coin in this bull market, the 42197305584 Musk Dogecoin, has all of Musk's Dogecoins in the billions or even tens of billions, and this token, apart from being Musk's favorite dog, has a market value of less than ten million, with a very strong community, making it very worthwhile to invest in and build together!