In a recent statement, Pantera Capital's founder and CEO, Dan Morehead, predicts that Bitcoin could eventually reach a price of $740,000. Morehead believes that changing regulatory conditions are driving Bitcoin's price to new highs, with previous regulatory hurdles now becoming supportive factors. Despite Bitcoin's recent price drop and the overall cryptocurrency market losing some of its recent gains, there has been an inflow of $7 billion into U.S. spot-Bitcoin exchange-traded funds. Long-term holders have started selling in the spot market, but this sell pressure has been offset by Bitcoin ETF inflows and major purchases by companies like MicroStrategy, which recently bought $5.4 billion worth of Bitcoin.



Other News from Today