Pantera Capital has forecasted that Bitcoin could hit $740,000 by April 2028. The firm recently announced a milestone for its Bitcoin Fund, which has achieved a remarkable 1,000x return.
The fund’s lifetime performance now stands at 131,165%, net of all fees and expenses.
Launched in 2013, Pantera’s Bitcoin Fund was among the first investment vehicles in the US to offer exposure to Bitcoin. At that time, Bitcoin was priced at $74. The firm capitalized on this and acquired 2% of the global Bitcoin supply.
However, BTC reached the $99,000 mark earlier this month, which means Pantera’s return on the initial 2013 investment has increased by over a thousandfold.
“Bitcoin dominates cash, electronic fiat money, gold, bearer bonds, large stone discs, etc. It can do all of the things that each of those can. It’s the first global currency since gold. It’s the first borderless payment system ever,” Pantera Capital’s Dan Morehead wrote in the latest statement.
Pantera Capital previously projected Bitcoin’s price to reach $117,000 by 2025.
Meanwhile, Pantera has been exploring new crypto avenues outside of Bitcoin. The firm’s new venture, Pantera Fund V, aims to diversify its portfolio with investments in blockchain assets.
The fund has been looking at private tokens and opportunities such as locked Solana tokens from FTX’s estate. Pantera also raised funds earlier in June to expand its holding in Toncoin.
Bitcoin Facing Correction After Month-long Rally
Despite reaching record highs in November, Bitcoin’s price has dipped 6% in the past few days. Weaker demand among US investors has contributed to this decline, as highlighted by the Coinbase Premium Index.
At the same time, Bitcoin ETFs have seen fluctuating demand. On November 25, ETFs recorded a net outflow of $438.38 million after five consecutive days of inflows that totaled $3.5 billion.
Although Bitcoin’s realized profit dropped from $10.58 million to $1.58 million on Monday, this reduction in selling pressure could indicate room for future price growth.
Moreover, the average holding time for Bitcoin increased by 65% over the past week, suggesting stronger conviction among investors and reinforcing a positive outlook.
While the market remains volatile, Pantera’s long-term prediction reflects confidence in Bitcoin’s growth potential as the leading cryptocurrency continues to attract institutional interest.
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