Pantera Capital Management is predicting that the price of Bitcoin could eclipse $700,000 in 2028, shortly after the asset sailed toward a six-figure valuation per token last week. 

Pantera Capital CEO Dan Morehead said Tuesday in a letter to investors that Bitcoin could hit $740,000 by April 2028, based on historical trends, due to the election of pro-crypto President-Elect Donald Trump and a majority digital asset-friendly U.S. Congress.

And with just 5% of financial wealth invested in blockchain-related assets, Morehead believes that Bitcoin’s price has a lot of room to grow.

“Even after 11 years, Bitcoin is still squeezing up like a watermelon seed,” Morehead wrote. “Blockchain’s 15-year regulatory headwinds are now turning into tailwinds.”

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Author: Liz Napolitano