{"id":26822,"date":"2025-05-14T20:47:25","date_gmt":"2025-05-14T20:47:25","guid":{"rendered":"https:\/\/dogewisperer.com\/panteras-dan-morehead-sees-decades-of-bitcoin-upside-ahead\/"},"modified":"2025-05-14T20:47:25","modified_gmt":"2025-05-14T20:47:25","slug":"panteras-dan-morehead-sees-decades-of-bitcoin-upside-ahead","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=26822","title":{"rendered":"Pantera&#8217;s Dan Morehead Sees Decades of Bitcoin Upside Ahead"},"content":{"rendered":"<div>\n<p>Bitcoin\u2019s (BTC) long-term potential remains largely untapped, according to Dan Morehead, founder and CEO of Pantera Capital, who took the Mainstage at Consensus 2025 in Toronto on Wednesday. <\/p>\n<p>\u201cThere are a couple more decades to go of outsized returns in bitcoin,\u201d Morehead told the audience, underscoring Pantera\u2019s ongoing conviction in the asset class.<\/p>\n<p>Morehead offered a rare look into Pantera\u2019s performance metrics, noting that the firm has turned a profit on 86% of its portfolio companies. Pantera has also invested in 22 startups that have gone on to achieve \u201cunicorn\u201d status with valuations exceeding $1 billion.<\/p>\n<p>To capture opportunities in a fast-evolving landscape, Morehead recommended investors adopt a broad-based approach. \u201cWe advise investing in a wide spectrum of tokens and venture equity,\u201d he said.<\/p>\n<p>On the same panel at Consensus, Dan Tapiero, founder and CEO of 10T and 1RT, shared a sobering view on deal flow and valuations. <\/p>\n<p>\u201cIn this space, founders think they should be raising capital at 50 to 70 times revenue,\u201d Tapiero said, calling the expectations \u201cunrealistic.\u201d<\/p>\n<p>Tapiero said his firm passed on approximately 200 investment opportunities in recent years, including some companies they genuinely liked. \u201cWe automatically passed on a lot of these deals because the price was just too high,\u201d he noted.<\/p>\n<p>Among those they declined? FTX, Celsius, and BlockFi, all three of which later collapsed amid scandals and market turmoil.<\/p>\n<p>Morehead also addressed the increasingly international nature of crypto activity. \u201cNinety percent of crypto trading and protocols are based outside the U.S.\u2014which isn&#8217;t right,\u201d he said. He blamed regulatory inertia for the exodus but expressed optimism that change is underway.<\/p>\n<p>\u201cThe election win was a huge unlock,\u201d Morehead said, referring to recent U.S. political shifts. \u201cWe\u2019re coming back to what should have been, the last 6 to 8 years was a weird anomaly.\u201d He hopes the coming years will see capital and innovation flow back into the U.S. crypto sector.<\/p>\n<p><strong><em>Read more: <a href=\"https:\/\/www.coindesk.com\/consensus-toronto-2025-coverage\/2025\/05\/14\/usd500k-bitcoin-would-seal-it-scaramucci-says-crypto-is-on-the-cusp-of-becoming-an-asset-class-for-tradfi\"><span style=\"text-decoration:underline\">&#8216;$500K Bitcoin Would Seal It&#8217;: Scaramucci Says Crypto Is on the Cusp of Becoming an Asset Class<\/span><\/a><\/em><\/strong><\/p>\n<p><em>Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk\u2019s full<\/em>\u00a0<em><a href=\"https:\/\/www.coindesk.com\/ethics\">AI Policy<\/a>.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin\u2019s (BTC) long-term potential remains largely untapped, according to Dan Morehead, founder and CEO of Pantera Capital, who took the Mainstage at Consensus 2025 in Toronto on Wednesday. \u201cThere are a couple more decades to go of outsized returns in bitcoin,\u201d Morehead told the audience, underscoring Pantera\u2019s ongoing conviction in the asset class. Morehead offered [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-26822","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/26822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26822"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/26822\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}