During a recent podcast appearance, Dan Morehead, CEO of Pantera Capital, recently stated that Strategy’s Michael Saylor “opened his eyes.”
At first, Morehead, an early Bitcoin adopter, did not understand Saylor’s strategy, but seeing mutual funds make billions through it changed his mind since he realized that this was a revolutionary access mechanism.
“So they invested less than a billion dollars and made six billion in profits for their investors. And so that is a great trade, and that’s what opened my eyes. It allows different types of investors to get access,” he said.
Betting on Solana
This revelation inspired him to move into digital asset treasury companies (DATs) with The Solana Company.
Morehead launched the Solana treasury firm back in mid-September by rebranding an entity that was formerly known as Helius Medical Technologies).
“Our biggest position is Solana, but we have big positions in quite a few other coins as well… Solana is very hyper-performant, so it’s having its day,” Morehead said.
Hundreds of blockchains
At the same time, Morehead has predicted that there will be hundreds of blockchains.
“Bitcoin, Ethereum, and Solana are very, very important. But tomorrow they might invent something new that has another cool use case that’s equally important,” the entrepreneur commented.
Bitcoin as digital gold
At the same time, he is convinced that Bitcoin has already won the “digital gold” use case.
“There are 118 elements. People picked number 79 to store their wealth (gold). There are prettier ones, like platinum or palladium. Same with Bitcoin. There are 25,000 tokens out there, but only one that has a massive network effect and a 15-year track record,” Morehead opined.