Dan Morehead, CEO of Pantera Capital, believes Bitcoin’s price could surge to $750,000 within the next four years. Speaking on CNBC, the head of the U.S.-based cryptocurrency fund said he is confident Bitcoin will eventually reach the much-anticipated $1 million mark during his lifetime, though he cannot pinpoint when.
Morehead reminded viewers that Pantera Capital was the first Bitcoin fund globally, starting when BTC traded at just $104. At the time, the firm boldly predicted a $5,000 price target in 2013. With Bitcoin now far beyond that early milestone, he sees the new targets as part of the asset’s natural long-term growth. He also pointed out how investing in Bitcoin has become easier thanks to exchange-traded funds (ETFs), compared to the limited options available when Pantera launched.
In 2024, Pantera had already forecasted a potential Bitcoin price of $740,000 by 2028, though the firm cautioned the timeline could prove ambitious. Today, Morehead’s outlook underscores his continued bullish stance on the future of cryptocurrency.
Beyond Bitcoin, Morehead highlighted Solana’s impressive performance. According to him, Solana now handles around 9 billion transactions daily, surpassing activity in traditional capital markets. Pantera Capital currently holds its largest position in Solana, reflecting strong confidence in the altcoin. He emphasized that the crypto industry will not have a single winner, comparing it to the early internet era where multiple companies thrived. Still, he believes only a handful of layer-1 blockchains, such as Ethereum and Solana, will survive long term.
As Bitcoin edges toward new milestones, Morehead’s prediction reinforces the growing conviction among institutional investors that digital assets could achieve valuations once considered unimaginable.
