Pantera Capital CEO – At $1.1B, ‘Our Biggest Position Is Solana’

Key Takeaways

• Pantera Capital CEO Dan Morehead says Solana is the firm’s largest position, with $1.1 billion on its books
• He points to Solana’s performance over the last four years, which has been better than Bitcoin’s
• It’s not a winner-take-all, however; there will be several important blockchains, just like there are internet companies, but for now, Solana is in the lead

Pantera Capital CEO Dan Morehead just made waves in the crypto world. As the first US institutional asset manager focused exclusively on blockchain technology, Pantera has been investing in digital assets since 2013.

Where Pantera leads, others follow, and right now, the firm is placing all its bets on Solana.

Morehead told CNBC yesterday that Solana is the firm’s biggest position, with $1.1 billion in SOL on its books.

That’s not chump change. It’s more than what Pantera Capital holds in Bitcoin or Ethereum right now.

Solana Flips The Script for Pantera Capital

Why Solana? Morehead is clear. Solana has outperformed Bitcoin in the last four years, he says.

He told CNBC that Pantera was “100% Bitcoin” before. But now, the firm has pivoted since Solana has outpaced both Ethereum and Bitcoin, and is growing fast.

Indeed, the SOL price has jumped from $0.61 in 2020 to well beyond $200 per coin at its highest. Over 28,000% return. Those numbers just don’t lie.

The Pantera Capital CEO also points to transaction speed. Solana handles “9 billion transactions a day, which is more than all capital markets combined.”

Its network works, not just for traders but for real-world finance as well. That’s a major achievement for crypto.

Pantera Capital CEO Says No Winner Takes All

Morehead isn’t tribal. He doesn’t believe in one chain ruling them all.

Just as the internet has many successful companies, the blockchain world will emerge the same way, with several dominant protocols.

He concedes that the situation is fluid, and “something could come out tomorrow,” to change the firm’s position.

At the end of the day, Pantera moves with the market, and the firm rotates capital when needed. Solana is just leading for now.

The tail winds are certainly blowing in SOL’s favor. Pantera Capital announced its investment in the Helius Solana Treasury yesterday.

This is an initiative led by Pantera Capital and Summer Capital to build a Solana-focused corporate treasury.

Over $500 million has already been raised for the program, with the goal of scaling up to $1.25 billion through additional funding and stock warrants.

The treasury aims to support Solana as a reserve asset for public companies, allowing firms to generate yield from staking and lending while maintaining a conservative risk profile.

This bet on SOL price echoes the strategy pioneered by Bitcoin corporate treasuries, but leverages Solana’s network for institutional finance and expanding access to its ecosystem

Meanwhile, the crypto is also entering the ETF conversation, and analysts predict that the Solana ETF approval chances are 90% or better.

Giants like VanEck, Fidelity, and Franklin Templeton have filed, and if regulators approve, billions more could flow into Solana.

Could Solana Price Hit $1K This Cycle?

Pantera Capital isn’t alone in its bullishness. Galaxy Digital, Helius, Summer Capital, and other firms are piling in.

Many public companies hold and stake SOL, earning 7-8% yields. Solana is no longer just retail.

It’s a professional investor’s asset, and some analysts are even calling for a SOL price of $1,000 by early next year.

Is such a price target really possible? Solana’s performance has indeed been stellar over the last four years, and its uptime has stood at 99.95% for years.

Upgrades keep coming, staking yields are competitive, and SOL is now stable, fast, and scalable. Reaching $1,000 isn’t incomprehensible, and would push its market cap above $500 billion, which is more than most tech companies.

Either way, Dan Morehead and Pantera Capital aren’t guessing. They’ve put their money where their mouth is. $1.1 billion in Solana is a major signal, and the tailwinds are blowing like crazy.