According to online reports, at the Consensus 2025 conference in Toronto, Dan Morehead, founder and CEO of Pantera Capital, said: "Bitcoin still has decades of excess returns." He emphasized that Pantera continues to maintain confidence in the asset class. Morehead advises investors to "invest in a wide range of tokens and venture equity" to seize rapidly evolving market opportunities. He rarely disclosed that Pantera achieved an 86% profit in its portfolio and had invested in 22 unicorn companies valued at more than $1 billion. He also criticized the United States for its lag in crypto regulation, saying that "90% of crypto transactions and agreements are outside the United States-this is not true." But he was also optimistic: "Election victory is a huge unlock" and hoped that capital and innovation will return to the United States in the next few years.