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For Dan Morehead’s prediction to come true, BTC should maintain its current trend.
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The businessman believes that the industry will benefit from Trump coming to power.
Dan Morehead, founder of Pantera Capital, released an ambitious prediction for the price of Bitcoin (BTC) placing it at $740,000 per unit by April 2028, driven by a combination of factors including regulatory adoption, political support and sustained growth of the asset.
Morehead noted that The Cryptocurrency industry is still in an early stage, offering plenty of room for growth..
According to the businessman, 95% of global financial wealth has not yet entered the bitcoin and cryptocurrency market. “When this transformation occurs, the price of bitcoin could be around $740,000 per BTC,” Blockchain-letter/1000x-pantera-bitcoin-fund/” target=”_blank” rel=”noreferrer noopener”>stated in a statement.
The founder of the investment firm stressed that investors should not get carried away by the feeling of having “missed the boat” just because of the increase in the price of BTC.
“That’s the wrong mentality,” he said. To reinforce the argument, he mentions that since the launch of the Pantera Bitcoin Fund eleven years ago, bitcoin has registered a compound growth rate of 88% annually. The fund has achieved a return of 131.165% after expenses and commissionsas seen below.
Performance of the Pantera Bitcoin Fund. Source: Pantera Capital.
Yeah bitcoin manages to reach the projected figure, Its market capitalization would be 15 trillion dollarshe assures. Morehead emphasized that this figure is reasonable when compared to the $500 trillion in global financial assets.
However, he was cautious, adding: “While I wouldn’t bet my life on it and I’m not 100% sure cryptoassets will go up, the expected value of this trade is the most compelling I’ve seen in almost forty years of doing this.”
Bullish catalysts for bitcoin
Morehead identified two key factors that could drive the price of bitcoin and cryptocurrencies in the coming years.
The first is the regulation around cryptoassets that has allowed financial giants like BlackRock and Fidelity to offer bitcoin ETFs spot.
These instruments provide “incredibly cheap and efficient” access to anyone with a brokerage account, Morehead explained.
The ETFs Spot trading not only facilitates exposure to the bitcoin market for millions of investors, but also generates tangible demand.
The companies that manage these funds must buy and hold bitcoin in their treasuries, which reduces the supply available on the market. This dynamic could generate a significant increase in the price of the digital currency due to scarcity.
Trump’s political support
Furthermore, Morehead expressed optimism regarding the impact that Trump’s arrival at the White House will haveafter his recent election. The president has declared his intention to turn the United States into a bitcoin superpoweras reported by CriptoNoticias.
During his campaign, the president-elect proposed the creation of an advisory council to design transparent regulatory guidance to benefit the industry. Among the proposals, the possible constitution of a Strategic Bitcoin Reserve (SBR) stands out, aimed at consolidating the country’s position as a leader in cryptocurrencies.
Trump also announced the creation of a Department of Government Efficiency (DOGE), led by Elon Musk and Vivek Ramaswamy. This department will seek to reduce bureaucracy and attract investment to the cryptocurrency sector through more flexible and favorable policies.
An unprecedented opportunity
The panorama described by Morehead reflects a convergence of factors that could transform the bitcoin market in the coming years.
From spot ETF adoption to political support and entry of new investors, the leading digital currency appears to be on its way to consolidating its position as a key asset in the global economy.
Although the founder of Pantera Capital admits that the past does not always predict the future, he is confident that current fundamentals and adoption trends will allow bitcoin to reach historic numbers by 2028. “I think it will take a few more years, but I think there is a possibility decent to achieve,” he concluded.
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