Dan Morehead Sees A long time of Bitcoin (BTC) Upside Forward as Pantera Bets on Broad Crypto Future
Bitcoin’s (BTC) long-term potential stays largely untapped, in keeping with Dan Morehead, founder and CEO of Pantera Capital, who took the Mainstage at Consensus 2025 in Toronto on Wednesday.
“There are a pair extra a long time to go of outsized returns in bitcoin,” Morehead informed the viewers, underscoring Pantera’s ongoing conviction within the asset class.
Morehead supplied a uncommon look into Pantera’s efficiency metrics, noting that the agency has turned a revenue on 86% of its portfolio firms. Pantera has additionally invested in 22 startups which have gone on to attain “unicorn” standing with valuations exceeding $1 billion.
To seize alternatives in a fast-evolving panorama, Morehead really useful traders undertake a broad-based method. “We advise investing in a large spectrum of tokens and enterprise fairness,” he mentioned.
On the identical panel at Consensus, Dan Tapiero, founder and CEO of 10T and 1RT, shared a sobering view on deal movement and valuations.
“On this house, founders assume they need to be elevating capital at 50 to 70 occasions income,” Tapiero mentioned, calling the expectations “unrealistic.”
Tapiero mentioned his agency handed on roughly 200 funding alternatives in recent times, together with some firms they genuinely preferred. “We mechanically handed on a whole lot of these offers as a result of the value was simply too excessive,” he famous.
Amongst these they declined? FTX, Celsius, and BlockFi, all three of which later collapsed amid scandals and market turmoil.
Morehead additionally addressed the more and more worldwide nature of crypto exercise. “Ninety p.c of crypto buying and selling and protocols are based mostly outdoors the U.S.—which is not proper,” he mentioned. He blamed regulatory inertia for the exodus however expressed optimism that change is underway.
“The election win was an enormous unlock,” Morehead mentioned, referring to latest U.S. political shifts. “We’re coming again to what ought to have been, the final 6 to eight years was a bizarre anomaly.” He hopes the approaching years will see capital and innovation movement again into the U.S. crypto sector.
Learn extra: ‘$500K Bitcoin Would Seal It’: Scaramucci Says Crypto Is on the Cusp of Changing into an Asset Class
Disclaimer: Elements of this text had been generated with the help from AI instruments and reviewed by our editorial workforce to make sure accuracy and adherence to our requirements. For extra info, see CoinDesk’s full AI Coverage.
