At the Consensus 2025 event in Toronto, Dan Morehead – founder and CEO of Pantera Capital, a leading venture capital fund focused on cryptocurrency, made an attention-grabbing prediction: Bitcoin will continue to rise strongly for many decades to come. Could this be a signal for a new era of cryptocurrency?
Long-Term Potential of Bitcoin: Not Yet at Its Peak
Morehead asserts that the potential of Bitcoin has not yet been fully tapped and will deliver superior returns in 'a few more decades.' With the current price exceeding 105,000 USD and a forecast of reaching 740,000 USD by 2028, he emphasizes a sustainable belief in this asset, despite past skepticism. He advises investors to diversify their portfolios, investing in multiple tokens and crypto startup equity to optimize returns.
The success of Pantera is clear evidence, with 86% of investments being profitable and 22 startups in the portfolio becoming 'unicorns' valued at over 1 billion USD. This reflects the structured investment strategy and long-term vision of the fund.
Cautious Insights from the Market
However, not everyone is optimistic. Dan Tapiero, CEO of 10T and 1RT, brings a cautious perspective. He criticizes crypto startups that have overly high valuation expectations, from 50 to 70 times revenue, calling it 'unrealistic.' Tapiero revealed he has declined about 200 investment opportunities, including FTX, Celsius, and BlockFi – companies that later collapsed in scandals. This decision shows the importance of risk assessment in a volatile market.
Challenges and Hopes from the U.S.
Morehead is concerned about the situation where 90% of crypto transactions and protocols currently lie outside the U.S., due to delays in regulation. He believes this causes capital and talent to flow abroad. However, he is optimistic about the recent electoral victory of President Donald Trump, viewing it as a 'major turning point.' Morehead believes that the past 6-8 years were just an unusual phase, and in the coming years, capital flows and innovation will return strongly to the U.S.
Investment legend Tim Draper, in yesterday's prediction, went further, believing that in less than a decade, Bitcoin will replace USD, leading the world in unifying biotechnology and artificial intelligence. This reinforces Morehead's confidence in the future of Bitcoin.
Impact and Prospects
With crypto fund inflows reaching 3.4 billion USD last week and a forecast of accumulating 330 billion USD into Bitcoin by 2029, along with Ethereum (2,500 USD) and other altcoins, the market is on a growth trajectory. In the next 1-2 years, if the U.S. regulatory framework improves, Bitcoin could break through, leading the crypto industry to develop sustainably.
Conclusion: Bitcoin – The Future for Decades?
Dan Morehead of Pantera Capital predicts Bitcoin will rise strongly for many decades, with potential to reach 740,000 USD by 2028. Despite risks from high valuations and regulations, Pantera's investment strategy and political changes in the U.S. open up great hopes. Bitcoin promises to shape the financial future, but investors need to closely monitor to seize opportunities.
Risk warning: Investing in cryptocurrency carries high risks due to price volatility and legal uncertainties. Please consider carefully before participating.
