Pantera Capital’s Founder and CEO Dan Morehead revealed that the firm has invested over $1.1 billion in Solana, more than any other crypto.
Speaking in an interview with CNBC, Morehead said Solana is the “fastest, cheapest, and best-performing” blockchain, and that it beat Bitcoin in the last four years. He predicted that only a few blockchains—including Bitcoin, Ethereum, and Solana—will survive in the long term.
“Well Solana could do, I think, 9 billion transactions a day, which is more than all capital markets combined. So it’s obviously going to be the next thing after Solana,” Morehead noted.
Investments and treasury plans
With its $1.1 billion holding, Pantera Capital has become one of the largest corporate investors in SOL, potentially holding over 4.6 million tokens.
Pantera, along with Summer Capital, is building a Solana-focused corporate treasury called Helius. The firm has raised more than $500 million has been raised to date, with $1.25 billion targeted. This treasury will enable the joint venture to deploy Solana as a reserve asset and gain revenue from staking and lending.
Despite Panttera’s focus on Solana, Morehead remains bullish on Bitcoin. He predicts that Bitcoin could reach $750,000 in the next four to five years. He compares Bitcoin adoption to how mobile phones became a global necessity. The more people use it, the more its value could grow. Morehead told CNBC that Pantera used to be “100% Bitcoin,” but now it has shifted its focus to Solana, which has grown faster than both Ethereum and Bitcoin.
Solana’s mammoth growth
Solana continues to show strong growth in the decentralized finance (DeFi) ecosystem. Its price jumped from $0.61 in 2020 to over $294 at its peak. Solana has the ability to process millions of transactions per day, which makes it perfect for decentralized apps, NFTs, and other applications.
Currently, Solana has $24.30 billion total value locked (TVL) in DeFi, and its decentralized exchanges (DEXs) have a 24-hour trading volume of more than $100 billion. At the time of reporting, SOL was trading around $235, with a market cap of $126.4 billion, according to CoinMarketCap.
Also Read: Helius Raises $500M for Solana Treasury, Stock Soars 200%
