Pantera Capital Management has reported an extraordinary milestone, with its Bitcoin Fund delivering a 131,165% return since its launch in 2013.
The fund, one of the earliest crypto investment products, initially purchased 2% of the world’s Bitcoin supply when the cryptocurrency was priced around US$74.
Founder Dan Morehead reflected on the fund’s performance, sharing a 2013 letter where he predicted Bitcoin would “squeeze up like a watermelon seed” — a prediction that has proven remarkably accurate.
Pantera Bitcoin Fund recently achieved an insane milestone – 1,000x.
The post-election surge has taken the fund a further 30% higher. The Fund’s lifetime return is now 131,165% – net of fees and expenses.
My current outlook on #Bitcoin: https://t.co/0dS8GERNDB pic.twitter.com/plld0BMbef— Dan Morehead (@dan_pantera) November 26, 2024
The fund’s recent surge coincides with Donald Trump’s election and Bitcoin’s 120% annual price increase.
Looking forward, Morehead projects Bitcoin could reach US$740,000 by April 2028, potentially creating a US$15 trillion market capitalization. He attributes this potential growth to the fact that 95% of financial wealth has yet to engage with blockchain technology.
The hedge fund leader credits institutional players like BlackRock and Fidelity for improving crypto accessibility through spot Bitcoin and Ethereum ETF launches. Morehead also anticipates regulatory environments becoming more favorable with the incoming US presidential administration.
Pantera Capital’s performance serves as testament to the potential long-term value of early, strategic investments in emerging technologies like cryptocurrency, while highlighting the increasing mainstream acceptance of digital assets.
