Digital assets-focused investment firm Pantera Capital is celebrating a massive four-figure return on its Bitcoin (BTC) fund, which dates back to 2013.
In its latest Blockchain Letter, Pantera Capital CEO Dan Morehead says that the Pantera Bitcoin Fund “recently achieved an insane milestone – 1,000x.”
“The post-election surge has taken the fund a further 30% higher. The Fund’s lifetime return is now 131,165% – net of fees and expenses.”
Morehead also believes Bitcoin is on track to soar to an astronomical value through greater adoption, in part due to the election of pro-crypto Donald Trump as US president.
He notes that only about 5% of the world’s wealth currently has taken a position in Bitcoin.
“The catalyst for the change – from 5% [of financial wealth] in 2024 to a much higher number – just happened: regulatory clarity in the United States. Massive institutional managers like BlackRock, Fidelity, and others are now offering incredibly cheap, efficient access to anyone with a brokerage account. This new ease of access will finally allow tens of millions of investors and individuals to get exposure to this important new asset class.
We believe the broader industry will benefit greatly from the first pro-blockchain US president in office. In our view, blockchain’s success is in the best interest of the nation and we believe everyone in Congress will eventually adopt a neutral or pro-blockchain stance – it’s beginning to happen. Blockchain’s 15-year regulatory headwinds are now turning into tailwinds.”
Morehead says the greater adoption may send Bitcoin soaring more than 687% from its current value.
“That’s still exactly how I feel. We’re still early. 95% of financial wealth has not addressed blockchain. They are just beginning this massive transformation now. When they do, Bitcoin might be at something like $740,000 per BTC.”
In a new interview on CNBC’s Squawk Box, Morehead says that due to the cu
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Author: Daily Hodl Staff
