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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin To Surpass $120,000 In A Year, Says Pantera CEO

Best Owie
Best Owie
1 year ago
3 mins read
Picture of a bitcoin laying on a $100 bill, with a green upward arrow next to it

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Pantera CEO Dan Morehead has recently revealed his predictions for the price of bitcoin going forward. The CEO runs Pantera Capital, which runs the first bitcoin fund that was launched in the United States. Pantera’s bitcoin fund was launched in 2013, back when the digital asset was worth only $65 per coin.

Given the impeccable timing of when the fund got into bitcoin, it is not surprising that the founder’s thoughts are taken seriously in the cryptocurrency space.  The fund continues to see continued support as more institutional investors are getting into the digital asset. Seeing the recent price dips as a buying opportunity to get into the pioneer cryptocurrency.

Related Reading | On-Chain Expert Predicts $162K Bitcoin Peak This Cycle

A report from Reuters outlined a couple of price predictions made by the fund manager regarding the price of bitcoin. Morehead talked about where he sees the price ending and increased regulatory actions being taken against cryptocurrencies.

Mainstream Adoption To Push Bitcoin Higher

Talking about where bitcoin will be by the end of 2021, Morehead put the price of the digital asset at as much as $80,000 and $90,000 by the end of the year. Morehead also put the price of the digital asset at over $120,000 within the span of a year.

Bitcoin price chart from TradingView.com

Declining momentum in bitcoin price | Source: BTCUSD on TradingView.com

Going further with the predictions, CEO Dan Morehead put the price of the digital asset at as high as $700,000 in the next decade. The recent price dips and volatility do not seem to faze the fund manager as his price predictions continue to be on the high side.

Morehead’s predictions come despite speculations in the market being the cryptocurrency market might well be headed in the direction of a long bear market.

Increased Regulation Crackdowns In The Market

Talking about where regulation in the market is headed, the Pantera CEO explained that going forward, there would be increased regulatory scrutiny in the market. Pointing to the regulatory crackdowns that Binance has experienced in different countries recently. Morehead referred to the increased regulatory scrutiny as a “transition” phase for the crypto market.

The crypto market in general has seen increasing regulatory debates from countries around the world. United States lawmakers continue to introduce bills aimed at providing proper regulations for the crypto market.

Related Reading | Bitcoin Is More Oversold Than It Was At ATH In April, Says Analyst

Meanwhile, other countries continue to show favorable trends for cryptocurrencies. Earlier in the year, El Salvador’s president announced that the country would be accepting bitcoin as a legal tender. This is scheduled to go into full effect in September of this year.

Dan Morehead’s fund, Pantera Capital, currently manages $2.8 billion in blockchain-related assets. And the fund has invested in crypto exchanges including Coinbase and Binance.

Featured image from PYMNTS.com, chart from TradingView.com
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Best Owie
Best Owie

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality.

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Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best’s publications, which are always clear and concise, enabling easy reading and understanding for all.

Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best’s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community.

Best’s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information.

Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity.

When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world’s most quiet and well-behaved Husky. Best’s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well.

As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers.

Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best’s prolific career in the media industry is a testament of how hard work and dedication pays.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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