Author: Dan Morehead, founder of Pantera; Compiled by: 0xjs@金财经

When Pantera Bitcoin Fund’s income reached 1,000 times, CNBC Squawk Box interviewed me on November 26, 2024.

Joe: “Our next guest has witnessed the cryptocurrency rally firsthand. Welcome Dan Morehead, founder and managing partner of Pantera Capital. The firm released some news on the Bitcoin rally this morning. .Pantera Bitcoin Fund recently hit a 1000x growth milestone since its inception

“You were kind enough to send us your 2013. The original memo was written in 2010, where you were basically saying, ‘Okay, now it’s time — Bitcoin has pulled back, it’s time to buy’. It pulled back from $130 to $65, and that's when the fund [launched]. You say, ‘I personally want to buy 30,000 Bitcoins’. This is the launch of Bitcoin’s first institutional investment tool...

“Currently, this increase has reached 1,000 times and then increased by 30%.”

Dan: “But it is still It's too early. I think the median institutional ownership in blockchain is zero. Most institutions have zero investment in blockchain, even the ones that are really progressive and really committed to blockchain. Change 1% or 2% of funds allocated to blockchain. I think we still have decades to go..."

"I wouldn't bet my life savings that Bitcoin would go up, but in eleven years, The price of Bitcoin almost doubles every year. What if it goes up for another year? ”

Joe: “Would you bet it won’t go to zero?”

Dan: “Conservative. Say, I used to tell people it would definitely get to zero, but I don't think that's possible now. 50 million people hold it. 300 million people hold it globally. BlackRock and Fidelity are selling Bitcoin to retail investors."

Joe: "But. Your forecast was $740,000...I heard from Michael Saylor the other day that it was $13 million."

Dan: "Since we launched Pantera. Bitcoin market capitalization has grown by three orders of magnitude since the Bitcoin Fund. I think it could grow by another order of magnitude, which would mean a Bitcoin market capitalization of $15 trillion, a figure that compares to $500 trillion in financial assets. Still relatively small. It’s doable.”

News Flash, Cryptocurrency Holders Voted

Most Americans are under 40 years old.

They love blockchain.

Then they vote.

For months, I’ve been writing about how politicians ignore blockchain enthusiasts at their peril. This does happen.

Young people who are passionate about blockchain decided this election.

Since the last election, support among women under 30 has increased 14 points 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 changes.

Support among men under 30 increased by 29 points! This is crazy.

They supported Donald Trump for president by 14 percentage points. I haven’t heard the term “young Republicans” since the 1980s.

The picture is clear - young people changed the election. Most Americans are under 40 years old. They voted for cryptocurrencies.

As I have written in the past, I have never understood who in Congress would be opposed to cryptocurrencies. Who is an imaginary member of Congress who is anti-cryptocurrency? Who will support anti-cryptocurrency representatives in Congress? This makes no sense at all.

While new technology should not be partisan in the first place, if it is politicized, it should be Democrats promoting Bitcoin. This is a progressive’s dream.

While the Republican sweep is widely known, less is known about the significant changes beneath the surface. With anti-crypto senators successfully targeted and removed from office, this will revolutionize Congress. Like Senator Sherrod Brown being ousted from office by an unknown pro-Bitcoin car dealer — a dealer backed by $40 million in Bitcoin PAC funding.

Among the 58 general election candidates backed by the Crypto Super Action Committee, the blockchain industry won 54 to 4.

The upcoming 119th Congress is:

House of Representatives: 274 pro-cryptocurrency, 122 anti-cryptocurrency

Senate: 20 pro-cryptocurrency , 12 Against Cryptocurrency

I think the anti-crypto rhetoric from members of Congress is over. Four years from now, when we do the count again, I will be surprised to find that any of those 122 anti-crypto members of Congress are still around. They will either “switch” and support blockchain or lose the next election.

This will allow talents in the blockchain industry to refocus all their efforts on creative advancement.