Dan Morehead, the head of Pantera Capital, made some pretty eye-catching comments about Bitcoin’s future on CNBC recently. He thinks it could climb all the way to $750,000 within the next four years. That’s a massive jump from where we are now.
Morehead didn’t shy away from the even bigger number—the million-dollar Bitcoin. He’s confident it’ll happen, just maybe not on a specific timeline. He did say, though, that he expects to see it in his lifetime. That’s a strong statement from someone who’s been in the crypto game for a long time.
Pantera’s Track Record
It’s worth remembering that Pantera was actually the first institutional Bitcoin fund out there. Morehead pointed out that back when they started, a fund was just about the only way to get exposure. These days, of course, ETFs have made it simple for pretty much anyone.
They’ve had some bold predictions before. Back in 2013, when Bitcoin was sitting at around $104, they set a target of $5,000. At the time, that probably sounded crazy to a lot of people. But it happened.
This latest prediction of $750,000 isn’t even new for them. They first mentioned it last year, initially aiming for 2028. Morehead did admit that might be a bit optimistic. Perhaps the timeline has shifted, but the belief in the number itself seems firm.
Not Just About Bitcoin
The conversation wasn’t only focused on Bitcoin. Morehead had a lot to say about altcoins, particularly Solana. He revealed that Pantera’s biggest position right now is actually in SOL, calling it one of the best performers among major currencies over the past four years—even better than Bitcoin, apparently.
He highlighted its technical capacity, saying it can handle something like 9 billion transactions per day. That’s a staggering number, more than the entire traditional capital markets combined. It’s clear he sees real utility there.
No Single Winner
But here’s an interesting twist. Despite his clear belief in specific projects, Morehead pushed back on the idea of a “winner-take-all” outcome for crypto. He compared it to the early internet days, where a handful of companies survived and thrived, not just one.
He thinks the same will happen with blockchain networks. In the long run, he believes only a small number of layer-1 blockchains will make it. He named Ethereum and Solana specifically as likely survivors. So it’s not about picking one champion, but recognizing that a few might share the spotlight.
It’s a nuanced take. He’s extremely bullish on the space, but also pragmatic. The future, in his view, won’t be a monopoly. It might just be a lot more valuable than most people currently imagine.
