Dan Morehead: Crypto – The Most Asymmetric Trade in History

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Dan Morehead pivoted his hedge fund – Pantera Capital – to a pure play crypto hedge fund before the rest in 2013 and has reaped the rewards since. He first bought Bitcoin when it was priced at $65 compared to the $115,000 price today. Dan talks in detail to Wilf about the extraordinary conviction he has in blockchain – “the most asymmetric trade of all time” – which has allowed him to maintain his positions in the face of massive gains and massive drawdowns. He outlines why he thinks blockchain will play a central role in the next decade and century of the financial industry, the attractions of Solana and why he has launched a Solana digital asset treasury company. He also explains why Bitcoin has won the use case of “digital gold” and won’t be surpassed in that. Dan reflects on the important change in approach from President Trump towards crypto; why he is a believer in digital asset treasury companies (like Tom Lee’s BitMine Immersion Technologies and Michael Saylor’s Microstrategy) over crypto ETFs; and one of the key bull arguments for the space – that ‘smart money’ institutions don’t own crypto…yet.

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Date: October 14, 2025

35 thoughts on “Dan Morehead: Crypto – The Most Asymmetric Trade in History

  1. Thanks! Your video calms me down everyday, Gold has long been hailed as a store of value and a hedge against economic uncertainty, cryptocurrencies offer a new paradigm of digital scarcity, decentralization, and disruptive potential. From Bitcoin to Ethereum and beyond, these digital assets are rewriting the rules of finance, captivating investors with their unprecedented growth and innovation..managed to grow a nest egg of around 2.2Biitcoin to a decent 15.4Biitcoin. At the heart of this evolution is Seren Wintersun, whose deep understanding of both cryptocurrency and traditional trading has been instrumental. Her holistic approach to investment and commitment to staying abreast of market trends make her an invaluable ally in navigating this new era in cryptocurrency investment….

  2. To be honest, I'm a beginner trader, I made my first $20,000 in the market today on my second trade, While this amount may be modest, the progress and results are truly rewarding and mark an important milestone in my trading journey.

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