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Author: Dan Morehead, founder of Pantera; compiled by: 0xjs@Bitchain Vision
Pantera Bitcoin Fund earns 1,000 timesAt that time, CNBC Squawk Box interviewed me on November 26, 2024.
Joe: “Our next guest has witnessed the rise in cryptocurrencies firsthand. Welcome Dan Morehead, founder and managing partner of Pantera Capital. The company released some bitcoin rally this morning. Pantera Bitcoin Fund has been launched since its inception.Recently, it has set a milestone of 1,000 times increase.
“You kindly sent us the original memo you wrote in 2013, and you were basically saying, ‘Well, now is the time – Bitcoin is calling back, it’s time to buy’. ItIt was when the fund [started] from $130 to $65. You said, ‘I personally want to buy 30,000 bitcoins’. This is the launch of Bitcoin’s first institutional investment tool…
“Currently, this increase has increased by 30% after reaching 1,000 times.”
Dan: “But it’s too early. I think the median holdings of institutions in blockchain are zero. Most institutions have zero investments in blockchain, even those who are really improving and really committed to blockchain.The chain institutions also allocate only 1% or 2% of their funds to blockchain. I think we still have decades to go…”
“I won’t bet on my life savings to bet Bitcoin will rise, but over the past eleven years, the price of Bitcoin has almost doubled every year. What if it’s up another year?”
Joe: “Do you dare bet you won’t go back to zero?”
Dan: “Conservatively, I used to tell people it would certainly drop to zero.But, I don’t think it’s possible now.There are 50 million people in the United States who own it.300 million people worldwide hold it.BlackRock and Fidelity are selling Bitcoin to retail investors.It’s really reachedEscape speed.”
Joe: “But your prediction is $740,000…I heard from Michael Saylor the other day that it was $13 million.”
Dan: “Since we launched the Pantera Bitcoin Fund,Bitcoin’s market value has grown by three orders of magnitude.I think it might grow by another order of magnitude.This means Bitcoin’s market capitalization reaches $15 trillion, which is still relatively small compared to $500 trillion in financial assets.This is possible.”
Election results
News, cryptocurrency holders vote
Most Americans are under 40 years old.
They love blockchain.
Then they voted.
For months, I have been writing about how politicians are in danger because they ignore blockchain enthusiasts.This did happen.
Young people who are passionate about blockchain decided on this election.
The approval ratings of women under the age of 30 have risen by 14 percentage points since the last election in support of President Trump.President Trump hasn’t done much to support women or support the Constitution since November 2020, so you have to conclude that this is driven by his strong support for blockchain policy changes.
Males under 30 rose by 29 percentage points!This is crazy.
They voted 14 percentage points for Donald Trump’s election as president.I have never heard the term “young Republican” since the 1980s.
This picture is clear – young people have changed the election.Most Americans are under 40 years of age.They voted for cryptocurrency.
The end of anti-cryptocurrency lawmakers
As I have written in the past, I never understand who in Congress would object to cryptocurrencies.Who is the imagined MP against cryptocurrency?Who would support representatives in Congress who oppose cryptocurrencies?This simply doesn’t make sense.
While new technology shouldn’t be partisan in the first place, if it’s politicized, it should be Democrats promoting Bitcoin.This is the dream of progressives.
Although the Republican victory is well known, people know very little about the major changes below the surface.This will revolutionize Congress as anti-cryptocurrency senators are successfully locked and removed.Just like Senator Sherrod Brown was ousted by an unknown pro-Bitcoin car dealer — the dealer was backed by $40 million in Bitcoin PAC.
Of the 58 election candidates supported by the Crypto Super PAC, the blockchain industry won 54-4.
The upcoming 119th Congress is:
House: 274 support cryptocurrency, 122 against cryptocurrency
Senate: 20 support cryptocurrencies, 12 against cryptocurrencies
I think the MPs’ comments against cryptocurrencies are over.Four years later, when we re-count the statistics, I would be surprised to find that there are still some of the 122 members of Congress who are against cryptocurrency.They either “change their stance” and support blockchain or lose in the next election.
This will allow talent in the blockchain industry to refocus all its energy on creative progress.
