Pantera Capital’s founder, Dan Morehead, is incredibly bullish on Bitcoin. He thinks its market value could skyrocket to a whopping $15 trillion!
A Massive Untapped Market
Morehead points out that big institutional investors are barely involved in crypto. He says most haven’t even touched it, and those that have only put in a tiny percentage of their money. He sees this as a huge opportunity, because the vast majority of global financial wealth isn’t invested in crypto at all.
He believes unclear regulations held institutions back in the early days. But with a shift towards more supportive policies, he thinks things will change dramatically. He even suggests the US government could follow a similar strategy to its early internet approach. He highlights that most of the crypto market is outside the US, making clear domestic regulations crucial.
A Bitcoin Reserve for the US?
Morehead thinks the US government holding Bitcoin would be a smart move. He points out that the US already owns a small percentage of all Bitcoins and suggests adding to that would be a great strategic move, especially since the US dollar is the world’s reserve currency.
From Zero to Hero (and Beyond)
Morehead remembers the early days when getting investors on board was tough. In 2016, he only managed to raise $1 million after 170 investor meetings! But things have changed drastically. Now, major players like BlackRock and Fidelity are offering Bitcoin, making him confident that the price won’t crash to zero. He believes Bitcoin has reached a point of no return.
The $740,000 Bitcoin Prediction
Morehead predicts Bitcoin’s market cap could hit $15 trillion, potentially pushing the price of a single Bitcoin to a staggering $740,000. He thinks this is achievable, especially considering how much bigger the global financial market is. He even suggests this could happen as early as April 2028. (At the time of writing, Bitcoin was trading around $100,000).
