Latest news with #10T
Forbes
5 days ago
- Business
- Forbes
Bitcoin Is Suddenly On The Brink As Crypto Braces For A $50 Trillion Price Shock
Bitcoin has swung wildly this week, with a near-10% drop from its all-time high sparking fears the bubble has already begun to burst. Sign up now for CryptoCodex—A free newsletter for the crypto-curious The bitcoin price, after almost doubling since this time last year, has seen its rally stall this despite U.S. president Donald Trump issuing a huge bitcoin price prediction. Now, as Elon Musk's SpaceX quietly moving bitcoin has set alarm bells ringing, analysts are betting the bitcoin price is on the brink of a major move. Sign up now for the free CryptoCodex—A daily five-minute newsletter for traders, investors and the crypto-curious that will get you up to date and keep you ahead of the bitcoin and crypto market bull run Bitcoin has fallen sharply over the last 24 hours, raising fears of a price crash, even as insiders ... More issued huge bitcoin price predictions. 'Bitcoin deserves close attention. It has just swept the nearest liquidity zone around $115,700–116,100 and is now entering an important range—the first one from which a reversal and upward continuation could occur," analysts with crypto platform B2BInPay said in emailed comments. "If bitcoin breaks through its all-time high, it could open the path toward $127,700. The second scenario possible is that If a deeper correction occurs and bitcoin falls below $98,300, the next major support zone will be between $89,500 and $85,400. But it would require a sharp 17% decline to truly validate a bearish trend, which is too difficult in the current reality." The bitcoin price dip this week has been at least partially attributed to Galaxy Digital, the crypto financial services company led by billionaire Mike Novogratz, sending around 10,000 bitcoin worth $1.2 billion to exchanges, according to blockchain sleuths. Despite his company facilitating a potentially huge bitcoin sale, Novogratz remains bullish on bitcoin, predicting the price will continue to climb provided U.S. president Donald Trump keeps pushing for the Federal Reserve to lower interest rates. "We're in price discovery in a lot of these things, and $150,000 seems to me a decent target,' Novogratz told CNBC. Meanwhile, veteran crypto investor Dan Tapiero, the founder of crypto growth equity funds 10T and 1RoundTable Partners, has launched a new $500 million fund called 50T, consolidating the earlier funds and 5x-ing his previous crypto market prediction from $10 trillion over the next decade to $50 trillion. Sign up now for CryptoCodex—A free, daily newsletter for the crypto-curious The bitcoin price has soared over the last year, sparking a flurry of bullish bitcoin price ... More predictions. Tapiero puts the current crypto ecosystem value, including cryptocurrencies and the equity value of crypto companies, at $5 trillion already. "50T is a natural evolution from our original thesis in 2020 when we launched 10T with the belief that the digital asset ecosystem would grow from $300 billion to $10 trillion in 10 years," Tapiero said in a press release, pointing to Circle's public market debut and Coinbase's acquisition of derivatives exchange Deribit as validation of the thesis that "all value will eventually move on-chain" and that the market's growth has 'far exceed[ed] our initial timeline.' Tapiero's investments in Deribit, USDC-issuer Circle and trading platform eToro have all paid off recently. Tapiero also credited policy and regulatory improvements has likely to push the combined crypto market and crypto companies higher in the next few years, telling The Block there have been "significant changes in Washington DC."
Yahoo
14-05-2025
- Business
- Yahoo
Pantera's Dan Morehead Sees Decades of Bitcoin Upside Ahead
Bitcoin's (BTC) long-term potential remains largely untapped, according to Dan Morehead, founder and CEO of Pantera Capital, who took the Mainstage at Consensus 2025 in Toronto on Wednesday. 'There are a couple more decades to go of outsized returns in bitcoin,' Morehead told the audience, underscoring Pantera's ongoing conviction in the asset class. Morehead offered a rare look into Pantera's performance metrics, noting that the firm has turned a profit on 86% of its portfolio companies. Pantera has also invested in 22 startups that have gone on to achieve 'unicorn' status with valuations exceeding $1 billion. To capture opportunities in a fast-evolving landscape, Morehead recommended investors adopt a broad-based approach. 'We advise investing in a wide spectrum of tokens and venture equity,' he said. On the same panel at Consensus, Dan Tapiero, founder and CEO of 10T and 1RT, shared a sobering view on deal flow and valuations. 'In this space, founders think they should be raising capital at 50 to 70 times revenue,' Tapiero said, calling the expectations 'unrealistic.' Tapiero said his firm passed on approximately 200 investment opportunities in recent years, including some companies they genuinely liked. 'We automatically passed on a lot of these deals because the price was just too high,' he noted. Among those they declined? FTX, Celsius, and BlockFi, all three of which later collapsed amid scandals and market turmoil. Morehead also addressed the increasingly international nature of crypto activity. 'Ninety percent of crypto trading and protocols are based outside the U.S.—which isn't right,' he said. He blamed regulatory inertia for the exodus but expressed optimism that change is underway. 'The election win was a huge unlock,' Morehead said, referring to recent U.S. political shifts. 'We're coming back to what should have been, the last 6 to 8 years was a weird anomaly.' He hopes the coming years will see capital and innovation flow back into the U.S. crypto Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Sign in to access your portfolio
