According to Dan Morehead, managing partner and founding member of Pantera Capital Management, Bitcoin's (BTC) explosive climb still has a lot of room to grow.
Morehead dismissed worries of a Bitcoin bubble in an interview Tuesday, pointing to investor ongoing doubt as a positive indicator. He said, “There are still a lot of people very negative. And that's why I'm so bullish. So many people are still negative. It's far from being a bubble.”
Launched in 2013 when Bitcoin traded at $74, Pantera's fund has shown a 132,118% lifetime return. After exceeding $100,000 last week, Bitcoin was trading Tuesday close to $92,000, a 120% increase this year.
Morehead notes that, given prior 15-year regulatory hurdles that are now turning to supporting policies, Bitcoin might finally reach $740,000. He underlined as a major factor for expansion the pro-crypto attitude of the incoming Trump administration.
Targeting assets like private tokens and opportunities like locked Solana tokens from the FTX estate, Pantera is expanding its blockchain investments in addition to its Bitcoin fund using Pantera Fund V.
