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    Pantera Capital’s Dan Morehead predicts Bitcoin’s rise to a $15 trillion asset, reflecting on its unstoppable value and historical returns

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    Pantera Capital founder Dan Morehead believes Bitcoin could become a $15 trillion asset and states it is at “escape velocity,” making it impossible for the crypto to lose its value. His fund has returned over 130,000% since its original investment in Bitcoin, equating it to buying gold in 1000 BC. Morehead notes that major players like BlackRock and Fidelity are making significant progress with Bitcoin exchange-traded funds. He muses on a time Pantera spent 88 Bitcoin on hotel stays, a sum which is now worth around $8.6 million. Currently, Bitcoin’s trading price stands at $95,135.

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    Dan Morehead is the founder of Pantera Capital, the first cryptocurrency fund in the United States. He once described buying Bitcoin like buying gold during the Iron Age. Despite original skepticism, his fund has profited more than 130,000% since its initial investment.

    While discussing Bitcoin with an investor who wasn’t particularly interested, he stated that buying Bitcoin isn’t ‘just like buying gold,’ but buying gold in the year 1000 B.C. Morehead launched the Pantera Bitcoin Fund back in July 2013, and it has proven profitable, boasting over 1000 times the return of its first Bitcoin purchase at $74.

    At that time, Bitcoin was still on the periphery of most financial circles. But nowadays, Morehead says it’s virtually impossible for Bitcoin to lose all its value. With millions of people around the world owning Bitcoin, it’s reaching what he calls “escape velocity.” He even stated on CNBC’s Squawk Box in November that about 5% of all financial wealth is now invested in Bitcoin.

    Morehead is convinced that companies like BlackRock and Fidelity are making big strides with spot Bitcoin exchange-traded funds, causing a monumental shift. He’s optimistic about the future, predicting Bitcoin could become a $15 trillion asset.

    It has not been an easy journey, though. He remembers when Bitcoin value plummeted by 87% in December 2013, six months after his firm’s first purchase. He had to travel worldwide to conduct 170 meetings, unfortunately canceling a combined total of $1 million worth of investments.

    As an interesting tidbit, Bitcoin was used to cover Pantera’s hotel stays via online booking platform Expedia – one of the first big companies to accept Bitcoin. Looking back, it’s a bit painful realizing that they spent 88 Bitcoin, currently worth over $8.6 million, on hotel stays.

    On a lighter note though, Morehead quipped, “We could’ve bought two hotels with that money!”

    At the moment, Bitcoin’s trading price stands at $95,135, a 2.7% increase over the last 24 hours. Despite the highs and lows in the past, Morehead remains optimistic about the future of Bitcoin and its potential for solid returns.

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