Pantera Capital CEO Dan Morehead stated at the Ondo Summit that Bitcoin’s performance over the next decade could significantly outperform gold, primarily because large institutions have almost zero allocation to Bitcoin. Data shows that the median institutional Bitcoin holding is “close to 0.0%,” while gold has long held a stable position in most traditional asset portfolios. He views this structural gap as a potential long-term driving force.
Currently, many pension funds, endowments, and sovereign wealth funds remain cautious about Bitcoin. On one hand, this is due to risk assessment pressures from price volatility; on the other hand, it relates to regulatory pathways and a lack of sufficient historical data samples. However, Dan Morehead believes that this “gap between perception and allocation” actually presents an asymmetric opportunity. Once institutions allocate just 1% to 2% of their assets to Bitcoin, demand shifts could have a noticeable impact on prices.
Historically, Bitcoin has outperformed gold by over 5100% in the past decade. Gold still possesses safe-haven attributes, but as an emerging digital store of value, Bitcoin offers advantages such as a fixed supply cap of 21 million coins, rapid cross-border transferability, and transparency and verifiability. These features are attracting more investors concerned about inflation and currency devaluation risks.
Founded in 2013, Pantera Capital is one of the earliest hedge funds focused on crypto assets. The firm’s early investments in Bitcoin yielded substantial returns, reinforcing its long-term trend outlook. Dan Morehead also pointed out that countries continue to expand their money supply to cope with economic pressures, risking dilution of fiat currency purchasing power, while Bitcoin’s scarcity provides a hedge potential.
He predicts that the institutionalization of Bitcoin will not happen overnight but will advance through “gradual infiltration.” As the holding ratio moves from near zero to a significant scale, the price discovery mechanism will accelerate, and Bitcoin’s role in asset allocation may also change. For long-term investors, this comparison with gold may just be beginning.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Strategy Acquires 34,164 BTC Worth $2.54B as Stablecoin Inflows Reach $1.88B
Gate News message, according to Lookonchain Weekly Report (Apr 13–Apr 19, 2026), the market witnessed $1.88B in new stablecoin inflows. CEX spot trading volume increased while perpetual contract volume decreased during the period.
Institutional demand surged, with Strategy purchasing 34,164 BTC val
GateNews4m ago
Bitcoin Treasury Companies Head to Vegas After Surviving Drawdowns
Digital asset treasury (DAT) companies are emerging as the focal point at Bitcoin Conference 2026 in Las Vegas, according to BTC Inc. head of growth partnerships Sean Hagan. After months of market drawdowns, nearly all firms that loaded their balance sheets with Bitcoin remain operational and are
CryptoFrontier44m ago
Upcoming 'Bitcoin' Movie With Casey Affleck, Gal Gadot Probes Satoshi’s Identity
A film exploring Bitcoin’s origins is moving toward global release while spotlighting the mystery of Satoshi Nakamoto. Starring Gal Gadot and Casey Affleck, it revisits Craig Wright’s contested claims and their impact on Bitcoin’s identity.
Key Takeaways:
New Bitcoin film stars Casey Affleck and
Coinpedia1h ago
MicroStrategy buys 34,164 BTC in one week, spending $2.54 billion: the third-largest purchase in history, with total holdings of 815k BTC surpassing BlackRock
MicroStrategy bought 34,164 bitcoins for $2.54 billion last week, bringing its total holdings to 815k BTC, making it the largest bitcoin-holding institution in the world. The funding source was mainly raised through STRC preferred shares and common stock offerings, reflecting a signal from institutions to buy in the face of market weakness. Although the MSTR stock price faces short-term pressure, it still shows a strong long-term capital allocation trend, providing multiple ways for investors in Taiwan to participate.
ChainNewsAbmedia3h ago
Tether Holds 8.2% Stake in Bitcoin Mining Finance Firm Antalpha Following $49.3M IPO
Tether and CEO Giancarlo Devasini own 1.95 million shares (8.2%) in Bitcoin mining finance company Antalpha, which raised $49.3 million in its IPO. Antalpha offers Bitcoin-collateralized lending and has a $1.6 billion loan portfolio.
GateNews3h ago
Crypto ETPs Record $1.4B Weekly Inflows as Bitcoin Rally Extends Rally Optimism
Cryptocurrency ETPs saw $1.4 billion in inflows last week, marking the highest since January, driven mainly by Bitcoin. Year-to-date inflows reached $3.8 billion, boosted by positive geopolitical sentiment and Bitcoin price increases.
GateNews3h ago
