Future

bullish

United

Bitcoin

Bitcoin has reached a major milestone, with Pantera Capital founder and managing partner Dan Morehead declaring that BTC has “reached flight speed.”
Speaking about Bitcoin’s recent rally that has seen it approach $100,000 and gain 30% since Donald Trump’s election victory earlier this month, Morehead touched on the transformative potential of the asset.
Pantera Capital’s Bitcoin Fund, the first institutional crypto fund in the United States, recently surpassed a milestone by delivering a 1,000x return since its inception. Morehead reflected on his 2013 article advocating for Bitcoin investment at $65, a bold move at the time. Now, with Bitcoin trading significantly higher, Morehead believes there’s a long road ahead. “Most institutions have zero exposure to blockchain. Even the most progressive ones are only allocating 1% to 2%.”
Morehead highlighted the untapped potential for blockchain adoption, estimating that 95% of financial wealth is not invested in blockchain. He predicted that blockchain could eventually account for 8% of total financial investments, indicating a decade-long growth opportunity.
Related News: <a href="https://en.bitcoinsistemi.com/two-experts-discuss-the-future-of-bitcoin-and-cryptocurrencies/" target="_blank" rel="noopener noreferrer nofollow">Two Experts Discuss the Future of Bitcoin and Cryptocurrencies</a>
According to Morehead, the regulatory environment, often seen as a hurdle, could now act as a catalyst for growth. Thanking the new administration for promoting “regulatory clarity,” Morehead compared it to the government’s role in supporting the development of the internet. Noting that the United States already owns 1% of the world’s Bitcoin, Morehead called for strategic moves to leverage the asset, such as maintaining or increasing reserves.
Morehead also reiterated his long-term bullish view, suggesting that Bitcoin could eventually reach a price of $745,000. He said such a valuation is realistic given Bitcoin’s historical trajectory and the broader growth of the cryptocurrency market. Noting that Bitcoin has already risen three notches since Pantera Capital’s fund launch, Morehead believes a fourth notch is possible, in line with a potential market cap of $15 trillion, as global adoption of blockchain deepens.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/ceo-of-the-company-that-made-1000x-profit-on-bitcoin-reveals-btc-price-target/" rel="noopener noreferrer nofollow">CEO of the Company that Made 1000x Profit on Bitcoin Reveals BTC Price Target</a>

CEO of the Company that Made 1000x Profit on Bitcoin Reveals BTC Price Target

Bitcoin Sistemi EN

Other articles published on Nov 26, 2024

Morocco central bank to legalize all cryptocurrencies: Report

What is Crypto FOMO and How to Deal with It

David Friedberg Net Worth: Insights into His Financial Success

Is Qubetics One of The Best Cryptos to Invest In November 2024 Along with Immutable X and Ethereum?

Bitcoin Nears 1M Daily Active Addresses, Echoing 2021 Bull Run

LUNR vs RKLB: Which One is Likely to Hit Milestones Faster?

Join our free newsletter for daily crypto updates!