Pantera CEO suggests Bitcoin should be valued at $120,000 today

Dan Morehead, CEO of Pantera Capital, has made a bold claim that Bitcoin’s (CRYPTO:BTC) current price fails to reflect recent political and regulatory developments.

According to Morehead, the cryptocurrency should be trading above $120,000 and potentially reaching $126,000 if the market fully accounted for these changes.

Morehead’s valuation argument comes amid Bitcoin’s modest 24% price increase since the last U.S. presidential election.

He pointed to pro-crypto policies under the current administration, including executive orders establishing a Strategic Bitcoin Reserve and dropping major SEC actions against blockchain firms, as factors that should have significantly boosted Bitcoin’s value.

“The crypto markets have yet to price in the very positive developments,” stated Morehead in a post on X.

He highlighted Bitcoin’s historical annual growth rate of 83%, suggesting that its current price trajectory is lagging behind its natural trend.

Despite Morehead’s optimism, recent geopolitical and economic events have weighed heavily on Bitcoin’s price.

Following President Trump’s announcement of reciprocal tariffs on “Liberation Day,” Bitcoin experienced a sharp drop of over 7%, underscoring the impact of macroeconomic uncertainty on risk assets.

Other analysts have echoed caution.

BitMEX (CRYPTO:BMEX) founder Arthur Hayes warned that Bitcoin must hold above $76,500 through mid-April to avoid further declines.

Meanwhile, Charles Edwards of Capriole Investments suggested potential Federal Reserve intervention could reignite risk-on sentiment, benefiting Bitcoin.

Morehead remains confident in Bitcoin’s long-term prospects.

He has previously forecasted a price of $700,000 within the next decade, citing adoption trends and regulatory clarity as key drivers.

Pantera Capital, which manages $2.8 billion in blockchain assets, has been pivotal in supporting early-stage crypto ventures and institutional adoption.

At the time of reporting, the Bitcoin (BTC) price was $82,753.59.