Pantera Capital Management founder Dan Morehead recently expressed his optimism regarding Bitcoin, suggesting its market cap could reach $15 trillion. Speaking on CNBC’s “Squawk Box,” Morehead mentioned the success of Pantera’s initial Bitcoin fund which has seen over 1,000 times return since inception in 2013.
Could Bitcoin Reach $740,000 by April 2028?
Morehead highlighted the current lack of institutional investment in cryptocurrency, noting that most institutions lack any stake in blockchain technologies and that even forward-looking investors only allocate 1-2% of their portfolios towards them. He stressed the vast untapped potential and noted that much wealth remains unexposed to them.
Reflecting back to the early days of cryptocurrency, Morehead discussed how unclear regulations inhibited institutional adoption. He anticipates more supportive regulatory frameworks similar to those implemented during its infancy online – emphasizing the necessity for clear policies within the United States.
On the topic of whether President-elect Trump may establish a Strategic Bitcoin Reserve, Morehead suggested that keeping existing U.S. Bitcoin holdings seems plausible and strategic given Bitcoin’s increased acceptance as a reserve asset.
Morehead remains optimistic about Bitcoin’s continued value appreciation despite its rapid ascent, noting the difficulty in fundraising in 2016 which illustrated widespread adoption’s lack of certainty at that time. Now that major financial institutions have come onboard and embraced it, Morehead believes its trajectory can only accelerate; his prediction is for Bitcoin to reach $15 trillion with per coin price reaching $740,000 by April 2028 and his market cap being $15 trillion with per coin prices exceeding that figure.
As per recent updates, Bitcoin currently trades at $100,000.
