Dan Morehead, founder and managing companion of Pantera Capital Administration, has reiterated his bullish stance on Bitcoin, predicting that the pioneering cryptocurrency may 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 unique 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 remains 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 economic wealth has no investments in blockchain in anyway,” which interprets to minimal general publicity—usually a fraction of a %.
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 may mirror its early internet-era technique: “93% of the [crypto] market cap relies exterior america,” 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 is not going to 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 forex of the world. We don’t have one other forex to save lots of our reserves in. So saving in Bitcoin could be an ideal strategic transfer.”
Regardless of Bitcoin’s meteoric positive factors, Morehead believes there’s room for additional progress, particularly as many massive traders stay skeptical. He recounted elevating solely $1 million throughout 170 investor conferences in 2016—an expertise that strengthened 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 folks within the US, 300 million globally personal it. Blackrock and Constancy are promoting it. It has reached escape velocity,” Morehead remarked.
Wanting 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 will probably 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 economic belongings. That’s doable.” In a current investor word, Morehead revealed that BTC may attain this goal as early as April 2028.
At press time, BTC traded at $100,000.
Featured picture from YouTube, chart from TradingView.com
