Pantera Capital CEO Predicts $356,000 Price Target for Bitcoin (BTC)

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Dan Morehead, the CEO of crypto investment firm Pantera Capital, is particularly bullish on the world’s leading digital currency.

In a recent podcast interview with Unchained, Morehead revealed his bold predictions for Bitcoin’s (BTC) long-term price, stating that he sees $42,000 by year-end and $356,000 by 2022.

“Graph the price of bitcoin logarithmically and its trend has been to grow at 235% compound annual growth rate,” stated Morehead. “That puts BTC at $42,000 at the end of 2019. I think it’s a good shot that at the end of the year we hit that.”

BTC/USD log chart (TradingView)

That same projection puts Bitcoin at $122,000 in 2020-2021 and $356,000 sometime in 2022. At present, Bitcoin is trading just north of $9,780.

Pantera Capital recently raised $175 million for its third venture fund, which is focused on investing in startups in the areas of custody, commercial exchanges, asset management, institutional tools, infrastructure and marketplaces.

More: Pantera Capital: How Bitcoin Could Reach $356,000 in a Few Years

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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