Pantera Capital CEO Dan Morehead recently revealed that MicroStrategy’s Michael Saylor played a major role in reshaping his views on institutional Bitcoin investing. During a podcast appearance, Morehead, one of Bitcoin’s earliest adopters, admitted that he initially didn’t understand Saylor’s approach. However, witnessing how mutual funds made billions through Saylor’s strategy completely changed his perspective. “They invested less than a billion dollars and made six billion in profits for their investors,” he explained. “That’s what opened my eyes. It allows different types of investors to get access.”
This realization led Morehead to explore a new frontier—Digital Asset Treasury (DAT) companies. Inspired by Saylor’s success, he launched The Solana Company, a digital treasury firm established in mid-September by rebranding Helius Medical Technologies. The firm focuses on managing digital assets, particularly Solana (SOL), which Morehead considers one of the most promising cryptocurrencies.
“Our biggest position is Solana, but we hold many other coins as well,” Morehead said, emphasizing Solana’s high performance and growing dominance in the blockchain space. According to him, Solana is “having its day,” and he believes the future will see hundreds of blockchain networks serving different use cases. “Bitcoin, Ethereum, and Solana are very important, but tomorrow, someone might invent something new that’s equally valuable,” he added.
Despite his optimism about blockchain innovation, Morehead reaffirmed Bitcoin’s position as the ultimate “digital gold.” Comparing it to gold among the 118 chemical elements, he stated, “There are 25,000 tokens, but only one with a massive network effect and a 15-year track record.”
As Morehead continues expanding Pantera’s focus on Solana and digital asset treasuries, his evolving strategy underscores a broader trend—traditional investors increasingly recognizing cryptocurrencies as legitimate, high-yield assets.
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