Pantera Capital predicts that Bitcoin could reach $740,000 by 2028, driven by regulatory changes, institutional adoption and its historical growth trends.
Morehead attributed Bitcoin’s anticipated rise to several factors, including increased accessibility for investors and a growing shift in regulatory support. He noted that only 5% of global financial wealth is tied to blockchain assets, indicating significant room for expansion. Bitcoin’s 88% average annual growth rate could push its market capitalization to $15 trillion by 2028, according to Pantera’s projections.
Political developments also play a role. President-elect Donald Trump’s administration, along with a crypto-friendly Congress, is expected to foster a favorable environment for digital assets. Trump proposed a U.S. Bitcoin reserve, an idea Morehead called “rational,” comparing it to traditional reliance on gold. “If they put some of that money into Bitcoin, it’s a fantastic way to have a reserve currency,” he commented.
Pantera Capital is also exploring broader investments in blockchain. Its Pantera Fund V, launched with a $1 billion target, focuses on private tokens and opportunities such as FTX domain-locked Solana tokens. The timing of the fund’s launch, just before the significant downturns of 2022, allowed Pantera to take advantage of better pricing and reduced competition as many companies exited the sector.
Institutional players like BlackRock and Fidelity have built confidence in the market, making Bitcoin more accessible to traditional investors. Improved tools and regulations have encouraged institutional participation, supporting Bitcoin’s long-term potential. VanEck analysts predict that Bitcoin could reach $180,000 by early 2025, and some expect it to reach $100,000 by the end of 2024.
As blockchain adoption accelerates and regulations stabilize, Pantera Capital sees an optimistic future for Bitcoin. With its strong historical growth and growing support from major financial institutions, the cryptocurrency appears poised for significant gains in the years to come.
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