Bitcoin Hits New Highs Near $100,000; Pantera Predicts $740,000 by 2028 After 1,000x Fund Growth

Nov 26, 2024, 03:47 PM

Bitcoin's price is approaching the significant milestone of $100,000, generating widespread attention in the cryptocurrency market. The cryptocurrency has surged 40% this month, hitting new all-time highs. Pantera Capital's Bitcoin Fund has achieved a remarkable 1,000x growth, boasting a lifetime return of 131,165%. The firm, which bought 2% of the world's Bitcoins between 2013 and 2015, predicts that Bitcoin could reach a market capitalization of $15 trillion, equivalent to a price of approximately $740,000 by April 2028. Dan Morehead, CEO of Pantera Capital, stated that "Bitcoin has reached escape velocity," emphasizing the cryptocurrency's strong performance. Standard Chartered Bank reaffirms its bullish stance on Bitcoin, maintaining its year-end price target of $125,000 despite recent market dips. Hedgeye Digital Assets Analyst Ishmael Asad commented, "Never been more bullish," reflecting the optimistic sentiment among market participants.