Pantera Capital founder Dan Morehead on Monday announced plans for a Solana-focused digital asset treasury company to be listed on Nasdaq as he expects the structural Bitcoin (CRYPTO: BTC) bull market to stay intact.
What Happened: The new treasury company will provide direct exposure to Solana (CRYPTO: SOL) without leverage, addressing a gap in retail access since “it’s very difficult for normal investor to get access to Solana,” Morehead said during a CNBC Squawk Box interview.
The structure will capture staking yields of approximately 7% annually, which individual investors often struggle to access due to technical complexity.
Pantera currently holds $1.1 billion worth of Solana across its funds, representing the firm’s largest position. Morehead highlighted Solana’s technical advantages, stating it “could do 9 billion transactions a day.”
When pressed about competition between blockchains, Morehead rejected winner-take-all scenarios.
However, he expects consolidation around major protocols, saying, “Ripple’s going after Swift. You know Bitcoin’s digital gold” while “Solana is very good at the performance blockchain.”
Also Read: Bitcoin At A Crossroad: Why You Need To Watch $108,000 And $116,000
Bitcoin Price Outlook
Despite launching a Solana treasury company, Morehead remains bullish on Bitcoin’s long-term prospects.
Drawing on 12 years of experience, he observed that Bitcoin has “roughly doubled every year” and expects this trend to continue.
“I think it could go up to $750,000 in the next four or five years,” Morehead predicted, citing Bitcoin’s “very low single digit percentage of global wealth” as justification for continued growth.
While not expecting Bitcoin to reach $1 million in the near term, he suggested it could happen “in our lifetimes.”
The treasury company represents an evolution in crypto access methods. Morehead noted that Pantera “launched the first Bitcoin fund in the world” when direct purchase was difficult, but now “an ETF is very easy” for Bitcoin exposure.
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