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Dan Morehead

Dan Morehead

CEO of Pantera Capital

May 1, 2026

2:20
Yeah.
2:20
Previously, I was at Tiger Management, looking around the world for asymmetric trades, and those are the trades that are really compelling, where obviously there's risk, but the chance that if you do make money, you can make three times your money or ten times your money.
2:33
And in two thousand eleven, my brother introduced me to Bitcoin, and I have a l- little bit of a libertarian streak, so I thought this was really cool, but I didn't do anything about it.
2:42
And then in two thousand thirteen, Pete Burger and Mike Novogratz of Fortress Investment Group, who are friends, asked me to help them think about Bitcoin, and I came in for a coffee in two thousand thirteen and stayed for about five hours, and it just blew my mind.
2:57
I was like, "Okay, this seems huge." And they offered me an office in their building.
3:02
They just kicked us out a couple years ago, so we stayed for twelve years, uh, 'cause it was just that compelling.
3:08
So the case really is all of our financial systems, there are these extremely expensive middlemen that take huge rents out of the middle, whether they're banks or remittance companies or what have you.

14 MINS LATER

17:29
And again, what do you mean-- w-what do you think this means going forward then?

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