Dan Morehead, founder and managing associate of Pantera Capital Administration, has reiterated his bullish stance on Bitcoin, predicting that the pioneering cryptocurrency might finally command a $15 trillion market cap. Morehead’s feedback got here throughout a current interview on CNBC’s “Squawk Field,” the place he additionally highlighted Pantera’s authentic Bitcoin fund surpassing a 1,000x return since its inception in 2013.
$740,000 Per Bitcoin In April 2028?
Based on Morehead, institutional publicity to crypto continues to be woefully insufficient. He notes that “the median institutional possession of blockchain is zero,” and even trailblazing traders usually maintain simply 1–2% of their allocations in digital belongings. He characterised the chance as large, citing that “95% of monetary wealth has no investments in blockchain in any way,” which interprets to minimal total publicity—usually a fraction of a p.c.
Reflecting on the early days of crypto, Morehead recollects years of unclear rules deterring establishments from making significant commitments. With Donald Trump to take workplace, he envisions extra supportive frameworks for digital belongings, hinting that the US authorities might mirror its early internet-era technique: “93% of the [crypto] market cap relies exterior the USA,” he mentioned, underscoring the necessity for home regulatory readability.
When requested about the potential for President-elect Trump establishing a Strategic Bitcoin Reserve, Morehead commented: “I believe there are two variations of that. One is that the president-elect mentioned he won’t promote the Bitcoins the US already owns. The US owns 1% of the world’s Bitcoins. That appears simpler to do than getting passage to purchase further Bitcoins. I believe it’s a nice technique. The US is the reserve foreign money of the world. We don’t have one other foreign money to save lots of our reserves in. So saving in Bitcoin can be an awesome strategic transfer.”
Regardless of Bitcoin’s meteoric good points, Morehead believes there’s room for additional development, particularly as many massive traders stay skeptical. He recounted elevating solely $1 million throughout 170 investor conferences in 2016—an expertise that bolstered the notion that widespread adoption was nonetheless years away. Now, with mainstream monetary giants providing Bitcoin, Morehead now not worries about BTC worth going to zero. “50 million individuals within the US, 300 million globally personal it. Blackrock and Constancy are promoting it. It has reached escape velocity,” Morehead remarked.
Trying forward, Morehead outlined a imaginative and prescient of BTC’s market cap reaching $15 trillion, with the value per coin probably rising to $740,000: “It has gone up three orders of magnitude since we launched our fund, I believe it may well go up a fourth. And that places it at a $15 trillion market cap, which nonetheless appears comparatively small in comparison with $500 trillion of monetary belongings. That’s doable.” In a current investor notice, Morehead revealed that BTC might attain this goal as early as April 2028.
At press time, BTC traded at $100,000.
Featured picture from YouTube, chart from TradingView.com
