In 2013, Dan Marisid, the founder and CEO of Pantira, called at that time a global global hedge fund for investors to invest in Bitcoin, which is marginal digital assets, which was launched in 2009.
“Bitcoins is now trading at $ 65/BTC – exactly half of the price they were trading at our first meeting on May 28. I think we should buy strongly now,” He wrote in a letter For investors in July 2013, Pantera launched the Pantera Bitcoin Fund and the company interviewed the coding.
“I think a lot of people think I’m crazy.”
Quickly forward until 2025, Bitcoin BTCUSD was about $ 115,000 on Friday, and the encryption industry grew from a specialized experience to an increased environmental integration system with traditional financial markets, a change that has been reinforced as President Donald Trump develops a friendly agenda of the department.
Meanwhile, Pantera has become one of the largest asset managers and adventure companies in Crypto. The company is now running $ 5.2 billion of assets, and more than 200 encryption companies have declined including Excination Coinbase Coin, Stableco Circle CRCL, Ripple Ripple, and others.
When Moraid gained a prominent position, he repeated his growing encryption by a handful of his colleagues in Princeton, who will also appear as a main player in this industry. These include Gavin Andresen, as soon as the main Bitcoin Network developer, Michael Novoghatz, founder of Crypto Investment Galaxy Investment Partners, PETE BRIGER, Chairman Michael Saylor Mstr and Joseph Lubin, founder of Ethereum and Softires of Blockain Connsysys.
In a separate note, the Senate Financial Committee was investigating whether Misaid had violated the federal tax law to avoid hundreds of millions of dollars by moving to Puerto Rico, which provides the population with a special tax break, according to what he said Article in February From the New York Times. “I think I have acted appropriately with regard to my tax,” Moraid said in a statement, then I refused to comment on this article.
During an interview with Marketwatch on Thursday in Nasdaq Marketsite, where Figure Portfolio Company Technology Figr Open On the same day, Moraid said that Bitcoin is expected to double in one year, as a smaller encryption excels in the next few years, and shows his broader expectations for the future of encryption.
There is an increasing discussion about what is known as the four -year Bitcoin cycle is still correct. Moraid’s answer is yes.
Historically, analysts divided the transition of bitcoin into four stages – collapse, noise, correction and accumulation, based on the half -asset schedule. Halvings is an event that occurs almost every four years Cut the rewards that mines receive To check the transactions on Blockchain in half, reduce the new bitcoin offer.
While the first three halves in the history of Bitcoin helped stir gatherings by increasing scarcity, some argue that Halvess effect faded Since more factors are now the Bitcoin price. However, Moraid said that studying the course is still important to measure the next step for encryption.
To support his argument, Moraid was martyred A call he made in November 2022 That Crypto will reach $ 117482 on August 11, 2025, based on his analysis of Bitcoin’s performance after the previous three Halvings. Bitcoin rose above this level, according to the target MOREHEAD history, and then rose to a standard level of 124,495.51 dollars on August 14 before declining, according to Dow Jones Market data.
Now, Moraid said that Bitcoin is expected to double within a year and trade over $ 230,000, then eventually rise to a million dollars.
However, this course may be different from those in the past. One of the prominent discrimination is that President Trump pushes forward a series of policies that are friendly to the encryption industry. he The genius law signed In July, the first federal law regulates stablecoins, or a kind of encryption whose value is associated with another origin, and is often the US dollar. In the same month, the president’s work group on digital assets Release With the organizational recommendations of the industry, it indicates that digital assets have become a priority of politics.
Against the background of that background, Moraid said he expects altcoins, or encryption other than bitcoin, to excel in the next three years. Gary Ginsner, former head of the US Securities and Exchanges, who is called most of them securities: Gary Ginsler, former US Securities Pure and Exchanges, most of whom are called securities during the previous administration, Altcoins can benefit more than Trump administration policies, because they suffered from organizational uncertainty during the previous administration when Altcoins benefited more than the Trump administration policies, Because it was subjected to organizational uncertainty during the previous administration when Gary Ginsler, the former head of the US Securities and Stock Exchange, is called securities. Jinsler said after that Bitcoin was the only encryption He said it is publicly naming as a commodity.
Moorehead also added that with the maturity of Bitcoin, it has become increasingly difficult for the so -called whales, which usually indicate those carrying thousands of bitcoin, to move the market.
From 2013 to 2015, Pantera accumulated 2 % of the total Bitcoin supplies. However, the company has gradually reduced its position since then. Marided said that Pantira is now carrying nearly one billion dollars in Bitcoin. He added: “We have sold them to invest in new companies, and we have the Bitcoin Bitcoin Fund that contains investors, and they have been recovered to achieve the profits of more than 12 years.”
Marisid, who said he was the first asset -backed securities dealer in Goldman Sachs in the 1980s, said he expected “all value things” ultimately to be released on Blockchain. However, he admitted that it would take some time, with the arrival of a symbol of some assets closer to others. The distinctive symbol indicates the process of creating digital assets in the real world on Blockchain.
For example, the real estate mortgages and the US Treasury: TMUBMUSD10Y can be more easily, while real estate symbols require more effort.
When it comes to stocks, the technical challenge is not a source of concern, but “the organizational thing slows it.”
Marishaid pointed out that it requires more organizational clarity from SEC before more companies and money feel more comfortable in issuing stocks directly on Blockchain. While many companies including Robinhood Hood launched the so -called stock symbols, they represent encrypted representations of the company’s shares but do not give the rights of shareholders.
Pantera currently does not have any plans to repeat any of its money, due to organizational uncertainty.
“You know that we are already in a very examined industry, so if we take what is historically believed as a special fund for the employment safety project, then we make it a symbol, it is not clear how SEC will deal with that,” Moraid referred to. He added: “Therefore, we have avoided doing this, but I could see in the long run, and I think that perhaps after 10 years from now, the money like us will be a symbolic habit.”
Although it is difficult to predict an accurate schedule when all shares are released, if not all shares on Blockchain, “within a few years, you will see a large number of shares trading on Blockchain, which will open access to each person with a smartphone,” said Moraid.
In that memo, organizational expectations appear increasingly favorable. Chairman of the Supreme Education Council Paul Atkins last month It announced a new encryption agenda It aims to “Moderniz (ing) the rules and systems of securities to enable the US financial markets to move on the chain.”
Pantera is also a major supporter of many of the audience -circulating companies that adopted the Crypto Treasury strategy, one of the most important trends this year. It is a strategy in which a company, whether its original work is related to encryption or not, It provokes money and purchasing encryption It adds metal currencies to its public budgets.
Panterra portfolio companies in this BitMine Gemersion Technologies BMNR, a bitcoin mining company that adopted Ethor Mining Strategy Tom Lee As president.
However, since more than 100 companies jumped to the game this year, for some of them, their share price installments are on the net value of the assets, or the value of the encryption they keep, was narrowing, or even the transformation of negativity in recent weeks.
Moraid said that the restriction of the installment was expected. He pointed out that such a bonus is a measure of excessive demand for public assets in Blockchain Square and will inevitably decrease in the long run. Meanwhile, the catheter is also in support of the basic price. “When the price of bitcoin or the price of Solana collects, the installments rise slightly. And when they start, as they were during the past few weeks, the installments are decreased,” he added.
In the end, Moraid said he expected only a small number of companies with encryption treasury strategies to survive. Companies or three companies may leave per main encryption after monotheism, whether it is Bitcoin, Eter or Solana. “But not 100,” Moraid said.
He said that investors must “really focus on teams that have the best management teams that can reach coins at the best prices.”
