7 hours ago
Bitcoin’s (BTC) semipermanent imaginable remains mostly untapped, according to Dan Morehead, laminitis and CEO of Pantera Capital, who took the Mainstage astatine Consensus 2025 successful Toronto connected Wednesday.
“There are a mates much decades to spell of outsized returns successful bitcoin,” Morehead told the audience, underscoring Pantera’s ongoing condemnation successful the plus class.
Morehead offered a uncommon look into Pantera’s show metrics, noting that the steadfast has turned a nett connected 86% of its portfolio companies. Pantera has besides invested successful 22 startups that person gone connected to execute “unicorn” presumption with valuations exceeding $1 billion.
To seizure opportunities successful a fast-evolving landscape, Morehead recommended investors follow a broad-based approach. “We counsel investing successful a wide spectrum of tokens and task equity,” helium said.
On the aforesaid sheet astatine Consensus, Dan Tapiero, laminitis and CEO of 10T and 1RT, shared a sobering presumption connected woody travel and valuations.
“In this space, founders deliberation they should beryllium raising superior astatine 50 to 70 times revenue,” Tapiero said, calling the expectations “unrealistic.”
Tapiero said his steadfast passed connected astir 200 concern opportunities successful caller years, including immoderate companies they genuinely liked. “We automatically passed connected a batch of these deals due to the fact that the terms was conscionable excessively high,” helium noted.
Among those they declined? FTX, Celsius, and BlockFi, each 3 of which aboriginal collapsed amid scandals and marketplace turmoil.
Morehead besides addressed the progressively planetary quality of crypto activity. “Ninety percent of crypto trading and protocols are based extracurricular the U.S.—which isn't right,” helium said. He blamed regulatory inertia for the exodus but expressed optimism that alteration is underway.
“The predetermination triumph was a immense unlock,” Morehead said, referring to caller U.S. governmental shifts. “We’re coming backmost to what should person been, the past 6 to 8 years was a weird anomaly.” He hopes the coming years volition spot superior and innovation travel backmost into the U.S. crypto sector.
Disclaimer: Parts of this nonfiction were generated with the assistance from AI tools and reviewed by our editorial squad to guarantee accuracy and adherence to our standards. For much information, spot CoinDesk’s full AI Policy.
English (US) 