How do you find an asset with 1000x asymmetric return? How do you find the next bitcoin?
Our guest today is Dan Morehead, founder and managing director at Pantera Capital. He has been buying bitcoin since 2013 when the price was just $65. His fund is up over 100x since then.
There’s a lot to learn from Dan’s story, about early bitcoin history, but also the pattern recognition required to identify asymmetric assets. We cover price predictions, 4 year cycles vs a supercycle, how much upside is still in crypto, the trump administration and his thoughts on a strategic bitcoin reserve
------ TIMESTAMPS
0:00 Intro 3:04 The Email from 2013 11:21 Asymmetric Patterns 14:54 Buying Bitcoin in 2013 23:31 Onboarding Investors 29:17 Crypto's Global Adoption 34:19 Bitcoin's Escape Velocity 40:22 US Government Impact on Crypto 51:12 Global Bitcoin Race 56:00Institutional Adoption for Crypto 59:31 Crypto Cycles 1:04:11 2025 Bull Market? 1:07:54 Macro Environment 1:11:49 Tokenization 1:16:17 Thoughts on AI 1:19:19 The Next Bitcoin 1:21:45 Future Plans 1:22:27 Closing & Disclaimers
banklesshq
Our guest today is Dan Morehead, founder and managing director at Pantera Capital. He has been buying bitcoin since 2013 when the price was just $65. His fund is up over 100x since then.
There’s a lot to learn from Dan’s story, about early bitcoin history, but also the pattern recognition required to identify asymmetric assets. We cover price predictions, 4 year cycles vs a supercycle, how much upside is still in crypto, the trump administration and his thoughts on a strategic bitcoin reserve
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TIMESTAMPS
0:00 Intro
3:04 The Email from 2013
11:21 Asymmetric Patterns
14:54 Buying Bitcoin in 2013
23:31 Onboarding Investors
29:17 Crypto's Global Adoption
34:19 Bitcoin's Escape Velocity
40:22 US Government Impact on Crypto
51:12 Global Bitcoin Race
56:00Institutional Adoption for Crypto
59:31 Crypto Cycles
1:04:11 2025 Bull Market?
1:07:54 Macro Environment
1:11:49 Tokenization
1:16:17 Thoughts on AI
1:19:19 The Next Bitcoin
1:21:45 Future Plans
1:22:27 Closing & Disclaimers
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RESOURCES
Dan Morehead
x.com/dan_pantera
Pantera Capital
panteracapital.com/
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Not financial or tax advice. See our investment disclosures here:
www.bankless.com/disclosures