Pantera Capital, a digital assets investment company that focuses on Bitcoin (BTC), has celebrated a four-digit return for its Bitcoin fund dating back to 2013.
Pantera Capital’s CEO Dan Morehead stated in its Blockchain Letter that Pantera Bitcoin Fund has “recently reached an insane milestone — 1,000x”.
The fund has risen by 30% since the election. Fund returns are now at 131.165%, net of expenses and fees .”
Morehead believes that Bitcoin will also soar in value due to greater adoption. This is partly because of the election as US President Donald Trump, who supports crypto.
Only 5% of global wealth has invested in Bitcoin.
The regulatory clarity of the United States is what has triggered the shift from the 5% [of wealth] that existed in 2024, to much more. BlackRock, Fidelity and other large institutional managers are offering cheap, easy access to those with brokerage accounts. The new access ease will allow millions of individuals and investors to gain exposure to the new asset class.
The broader sector will be greatly benefited by the election of the first US President who is pro-blockchain. We believe that blockchain success will be in the national interest and all members of Congress are likely to adopt neutral or problockchain positions in time. It’s already happening. Blockchain’s 15 years of regulatory headwinds have now turned into tailwinds.”
Morehead claims that greater adoption could send Bitcoin’s value soaring by more than 687 percent from the current level.
It’s the same feeling I have. It’s still very early. Blockchain hasn’t been used to secure 95% of the financial wealth. This massive transformation is just getting started. “By the time they complete this massive transformation, Bitcoin could be worth $740,000 per BTC.”
Morehead said in a recent interview with CNBC’s Squawk Box that due to current adoption levels, he no longer tells people that Bitcoin could go to $0.
I used to say that it was possible to go down to zero in order to be conservative. It’s not possible anymore. It is owned by 50 million Americans and 300 million worldwide. BlackRock and Fidelity sell it. “It has really reached escape velocity.”
Bitcoin has risen by more than 152% in the last year, trading at $93,931.
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Sources of Images: Pixabay Creative Commons DALLE3
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