Bitcoin can hit $740k as blockchain adoption still lags

Citing yet-to-be-tapped blockchain adoption, Pantera CEO suggests Bitcoin’s market cap could reach $15 trillion if it reaches $740,000 per coin.

Pantera Capital CEO Dan Morehead predicts that the price of Bitcoin (BTC) could rise to $740,000 per coin in the next four years, driven by increasing technology adoption in the financial sector, adding that blockchain remains largely untapped.

In a note to investors, Morehead emphasized that 95% of financial wealth has yet to interact with technology and described the industry as being in the early stages of a “major transformation.”

“95% of financial wealth is not directed towards blockchain. They are just starting this massive transformation. When they do this, Bitcoin could be as high as $740,000/BTC.”

Dan Morehead

Morehead noted that if Bitcoin reaches the $740,000 mark, it would represent a market cap of $15 trillion, which would be modest compared to the $500 trillion in global financial assets. While acknowledging the unpredictability of future price trends, he outlined a potential trajectory in which Bitcoin could reach this valuation as early as April 2028, but also cautioned that “it will take several years longer.”

Morehead noted Bitcoin’s historical growth, which has already seen a threefold price increase, and argued that such a jump is more plausible. He stated that Bitcoin and blockchain assets have a unique investment scenario, noting their high potential returns according to their risk profiles.

Morehead expressed cautious optimism about the industry’s long-term prospects, saying, “The expected value from trading is the most compelling value I’ve seen in nearly four decades of doing this.” As of press time, Bitcoin is trading at $93,192 after failing to break the $100,000 resistance level, with the price pulling back after its last attempt to surpass the key milestone.