Pantera Capital has made an exciting prediction: Bitcoin could reach $740,000 by April 2028. Recently, they celebrated a major milestone for their Bitcoin Fund, which has achieved a staggering 1,000x return. Right now, the fund’s overall performance stands at an impressive 131,165%, after all fees and expenses.
Launched back in 2013, Pantera’s Bitcoin Fund was one of the first ways for U.S. investors to get exposure to Bitcoin. At that time, Bitcoin was priced at just $74. Pantera seized this opportunity and acquired 2% of the total Bitcoin supply. With Bitcoin recently hitting $99,000, that early investment has now returned over 1,000%!
Dan Morehead from Pantera Capital shared, “Bitcoin surpasses cash, electronic money, gold, and even bearer bonds. It can do everything those can do. It’s the first global currency since gold and the first truly borderless payment system.”
Previously, Pantera had projected Bitcoin would hit $117,000 by 2025. But they’re not stopping there. They’re also looking into new crypto opportunities beyond Bitcoin. Their latest initiative, Pantera Fund V, aims to diversify their portfolio by investing in blockchain assets. They’re exploring private tokens and even locked Solana tokens from FTX’s estate. Earlier this June, they raised additional funds to expand their holdings in Toncoin.
However, despite reaching record highs in November, Bitcoin’s price has dipped by 6% in recent days. This drop is largely due to weaker demand from U.S. investors, as shown by the Coinbase Premium Index. Additionally, Bitcoin ETFs have seen fluctuating demand. On November 25, ETFs experienced a net outflow of $438.38 million after five consecutive days of inflows totaling $3.5 billion.
Even though Bitcoin’s realized profit fell from $10.58 million to $1.58 million on Monday, this decrease in selling pressure might indicate room for future price growth. Plus, the average holding time for Bitcoin has increased by 65% over the past week. This suggests that investors are becoming more confident, reinforcing a positive outlook.
While the market remains volatile, Pantera’s long-term prediction shows strong confidence in Bitcoin’s growth potential. The leading cryptocurrency continues to attract interest from institutional investors.