recently that the Pantera Bitcoin Fund had generated a return of 10,136.15% in five years. The post goes on to reveal its expectation that bitcoin’s price will hit $67,500 by the end of next year.
The Pantera Bitcoin Fund recently had its five-year anniversary and thought it would be interesting to share two emails sent by CEO Dan Morehead in 2013 to investors on his belief that bitcoin would revolutionize global payment.
Sent Wednesday, August 21, 2013 when the price of bitcoin was $104. 48, Morehead described a conversation he had with an investor, in which he stated bitcoin is “just like buying gold.” Morehead replies by saying it’s more like buying gold in 1000 B.C., when 99% of financial wealth hasn’t addressed bitcoin.
The second email, dated Wednesday, November 6, 2013 with bitcoin trading at $253.69, describes Morehead’s opinion that buying bitcoin is like buying Microsoft stock back when you could get a share for $0.20, explaining, “In the fullness of time… clearly a great trade.”
The post goes on to look at bitcoin’s price chart from 2010. As Pantera states, it shows “very consistent exponential growth.”
The gold line representing the trend line. If the trend continues, Pantera predicts that by the end of 2018 bitcoin could hit $21,000, and $67,500 by the end of 2019.