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Recently, the Bitcoin fund Pantera Capital reached a significant milestone: its returns exceeded 1,000x, translating to an astounding 131,165% in net profit over its entire operational period. In light of this, the fund's founder, Dan Morehead, released a blockchain letter. The CEO of Pantera Capital believes that Bitcoin is still far from its maximum value and is in the early stages of its development. Regulatory easing and widespread adoption could propel BTC to new heights.
Pantera Capital's Forecast
- With the introduction of transparent regulations in the blockchain industry and the backing of major institutions like BlackRock and Fidelity, a significant portion of financial assets could be redirected towards Bitcoin. Currently, only 5% of global financial wealth is related to cryptocurrencies.
- Since the fund's inception in 2013, Bitcoin's average annual growth rate has been 88%. This indicates the long-term potential of the asset, even considering its volatility.
- If the growth trend continues, Bitcoin could reach $740,000 by 2028. This corresponds to a market capitalization of $15 trillion, which is realistic given the total volume of financial assets worldwide exceeding $500 trillion.
Factors That Will Impact Bitcoin's Growth:
- Ease of access for investors. Tools for engaging with cryptocurrencies are becoming available to anyone with a brokerage account.
- Political support from Donald Trump. The elected U.S. president will continue to advocate for cryptocurrencies, providing an additional boost to the industry.
- Market confidence. As technology advances and the regulatory environment stabilizes, large institutional players are expected to enter the market.
It should be noted that some analysts predict Bitcoin will reach $100,000 as early as this year. Additionally, VanEck has not ruled out that the price of Bitcoin (BTC) could hit $180,000 by the beginning of 2025.
Source: Pantera Capital
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