Pantera Capital’s Bitcoin Fund has delivered a 1,000x return, or 131,165% net of fees, since its launch in 2013. According to Pantera Capital’s founder Dan Morehead, the latest milestone came after the US post-election price rally, which boosted Bitcoin’s value by over 120% in the past year.
Pantera Founder Predicts Bitcoin Could Reach $740,000 by 2028
When the Pantera Bitcoin Fund was launched, Bitcoin was priced around $74 per coin. The fund purchased 2% of the world’s Bitcoin supply at that time. Over the years, Bitcoin’s price surged, with the most recent rally pushing it to an all-time high of $99,645.
Morehead, in a letter shared with investors, emphasized that the fund’s 11-year compound annual growth rate (CAGR) stands at 88%. Bitcoin’s growth trajectory has been consistent, with historical data showing the price doubling nearly every year. Morehead believes that Bitcoin’s market capitalization could reach $15 trillion by 2028, bringing the price per coin to $740,000.
In the early years, Pantera Capital faced challenges in convincing investors to back the fund. During the 2013-2015 bear market, Bitcoin’s price dropped by over 87%, and many investors were skeptical of the cryptocurrency’s future. However, Pantera continued to push forward, raising capital and growing its fund despite market volatility.
You May Also Like: Jiva Technologies Approves $1 Million Bitcoin (BTC) Investment for Corporate Treasury
Institutional Adoption and Regulatory Clarity Fuel Bitcoin’s Future
The surge in Bitcoin’s price and Pantera’s confidence in its future are also driven by increasing institutional adoption. Financial giants such as BlackRock and Fidelity have launched Bitcoin and Ethereum exchange-traded funds (ETFs), which allow individual investors to gain exposure to cryptocurrency more easily.
Morehead points out that 95% of global financial wealth has yet to invest in blockchain, leaving significant room for growth. He believes the entry of institutional investors and the continued regulatory clarity in the U.S. will drive Bitcoin’s demand.
Blockchain is no longer an experimental technology. With regulatory headwinds turning into tailwinds, the shift from skepticism to adoption is happening right before our eyes.
Morehead said.The post Pantera Capital Bitcoin Fund Achieves 1,000x Return, Eyes $740,000 BTC by 2028 appeared first on CoinChapter.
