Bitcoin

April

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 Dan Morehead, the CEO of Pantera Capital, has predicted that the price of Bitcoin could reach $740,000 per coin within the next four years.
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In a <a style="color: #0000ff;" href="https://panteracapital.com/blockchain-letter/1000x-pantera-bitcoin-fund/" rel="noopener noreferrer nofollow">message</a> to investors, Morehead pointed out that 95% of global financial wealth has not yet adopted blockchain technology, describing the sector as being in the early stages of a major transformation. He believes this significant increase is due to the increasing adoption of technology in the financial industry and emphasizes the vast untapped potential of blockchain technology.
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 “Ninety-five per cent of financial wealth has yet to embrace blockchain. We are only at the start of this monumental transformation. Once it takes off, Bitcoin could potentially reach around 740,000 per BTC.”
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He stated.
Morehead suggests that if Bitcoin reaches a price of $740,000, its market capitalization could increase to $15 trillion, relatively modest compared to the $500 trillion in global financial assets, predicting that this milestone could be achieved by April 2028, although it may take longer. He emphasizes Bitcoin’s historical price growth and maintains that another significant increase is possible. He views Bitcoin and other blockchain assets as outstanding investment opportunities, believing their potential returns outweigh the associated risks.
He expressed cautious optimism about the long-term potential of blockchain and cryptocurrency, noting that –
<blockquote>
 “The expected value of this trade is the most compelling I’ve encountered in nearly four decades of experience,”
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CryptoQuant CEO Ki Young Ju’s insights complement Morehead’s long-term bullish outlook for Bitcoin. Ju<a href="https://defi-planet.com/2024/11/cryptoquant-ceo-draws-parallels-between-bitcoins-rally-and-2020-surge/" rel="noopener noreferrer nofollow"> compares</a> Bitcoin’s rally toward $100,000 to its 2020 surge, citing months of whale accumulation and increased mining costs post-halving as key drivers. He emphasized that Bitcoin’s price must rise to sustain mining profitability, with short squeezes fueling the bull market. While Ju acknowledged uncertainty in the timing of price movements, his analysis reinforces Morehead’s view of Bitcoin’s transformative potential and trajectory toward significantly higher valuations.
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The post <a href="https://defi-planet.com/2024/11/pantera-capital-ceo-predicts-bitcoin-price-surge-to-740000-in-four-years/" rel="noopener noreferrer nofollow">Pantera Capital CEO Predicts Bitcoin Price Surge to $740,000 in Four Years</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Pantera Capital CEO Predicts Bitcoin Price Surge to $740,000 in Four Years

DeFi Planet

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