One of the most prominent names when it comes to promotion of cryptocurrencies is of Dan Morehead. He is the person who founded world’s first sole cryptocurrency investment firm. People are always anxious to know more about Dan Morehead and Dan Morehead net worth. In this article we will take a closer look at Dan Morehead’s life, what is his contribution in the market of cryptocurrencies and Dan Morehead net worth.
Dan Morehead and Cryptos/ Dan Morehead bitcoin
Dan Morehead is famous in the crypto space as the founder of the Pantera capital. To know more about Dan Morehead you will have to go step by step. Let’s first try to make you familiar with his company Pantera Capital.
Pantera Capital is a hedge fund for which Bitcoin became an “institutional interest” in 2013. Now you might ask, what is “Institutional Interest”? We will explain you this in a simplified language.
Suppose a restaurant introduces a dish in its menu that is very delicious. Now the regular customers of that restaurant start ordering that dish more often but the problem with the restaurant is that it can prepare that dish only in a limited amount. Now, what will happen? Probably, not everyone will be able to get that dish due to its huge demand.
As the demands for that dish increased, the supply decreased. The restaurant also has an option now of making that dish more expensive.
This is a pretty simple example of “Institutional Interest”.
Institutional Interest is made up of two words, Institution and Interest. If we talk in the crypto space then Institutions are the organizations that make some big investments. The fields in which these organizations invest denote their “Interests”.
So when these organizations invest in something a huge amount, then the supply for that thing decreases and it becomes expensive as we saw in the case of restaurant. One more famous example is “Tesla Bitcoin”.
The Pantera Capital showed “Institutional Interest” in Bitcoin in 2013 and invested in it. As a result, prices soared and the Pantera has given its clients 24000% returns on their investments. Dan Morehead founded this hedge fund in 2003. He graduated from Princeton University with a degree of BSE in Civil Engineering in 1987.
When his education was completed in 1987, he started his career as a derivatives trader at Goldman Sachs. He worked for around 25 years there. He also spent four year tenure as the CFO at Tiger Management. In the year 2000, Morehead embarked upon his entrepreneurial journey and built a forex platform named “Atriax”. This platform electronically executed and processed foreign exchange transactions and was valued at $100 Million. In 2003, he founded Panetra Capital, a hedge fund.
Portfolio of Dan Morehead tells that he has experience of more than 25 years in managing funds of various genres. These include macro, hedge and non-macro funds.
Dan Morehead net worth
Now coming to the final question what is Dan Morehead’s net worth? Morehead has worked in various firms and has led many funds. This is enough to tell that he has made a lot of money throughout his career. Though the exact amount is hard to determine but the estimates tell us that his total net worth currently is around $500million dollars. This puts him as the top crypto millionaire in the market.
Dan Morehead is in the list of those lucky persons in the Wall Street who made an early investment in the Bitcoin and extracted a huge benefit from it.
Dan Morehead Bitcoin prediction
The predictions of Dan Morehead related to Bitcoin have been pretty accurate. He early predicted that by the end of 2019 Bitcoin would reach $40,000. Although, this didn’t happen in 2019, it happened in the year 2020. Now Dan Morehead has come up with another Bitcoin price prediction.
According to him, Bitcoin will break $100,000 very soon. The Bitcoin price currently at the time of writing this article is around $42,000 and the trends tell us that this price prediction of Dan Morehead will become a reality soon. Recent surveys have showed that a good number of fund managers believe that crypto prices will stay strong and it is safe to invest in it.
So what are you waiting for! Explore more about crypto space on our website Cryptopositives.com
Also Read, Metakovan Vignesh Sundaresan Net Worth.