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Pantera: Altcoins Like Solana Could Become Next Tech Giants
Pantera Capital – Despite Bitcoin recently climbing past $126,000 to hit a new all-time high, most investors still have no exposure to the crypto market, according to Cosmo Jiang, general partner at Pantera Capital. Speaking on CNBC’s Fast Money, Jiang said there’s still significant opportunity in digital assets — because most people aren’t in yet.
“A Bank of America survey from a few weeks ago showed more than 60% of investors own 0% exposure to digital assets,” Jiang noted. “So the idea that it’s too late in the game isn’t true.”
Crypto Ownership Still Low Worldwide
While prices have surged, crypto adoption remains relatively low, both in the U.S. and globally. The National Cryptocurrency Association’s 2025 State of Crypto report found that just 21% of American adults own any cryptocurrency. Globally, the United Arab Emirates leads in adoption, yet only 25.3% of its population holds digital assets, according to a September report from ApeX Protocol.
Analysts like Tom Bruni from Stocktwits believe Bitcoin’s price surge may be discouraging new investors, as some feel they’ve already missed out.
Spotlight Shifting from Bitcoin to Altcoins
Jiang said the past few years have been about “legitimizing Bitcoin,” but now it’s time for altcoins like Ethereum and Solana to shine. “The next step — and what Congress legislation is enabling — is for the rest of the digital assets to have their place,” he explained.
Pantera sees Solana evolving into a potential next-generation mega-cap tech company, citing its rapid platform growth.
Institutional Demand Driving ETF Inflows
While retail adoption remains low, institutional interest is soaring. Jiang pointed to record flows into Bitcoin ETFs, which are now outpacing inflows into the Nasdaq since their launch. Just last week, spot Bitcoin ETFs recorded a net inflow of $3.24 billion, nearly matching their previous record from November 2024.
“This year is all about headwinds becoming tailwinds,” said Jiang, highlighting how equity investors are now embracing digital assets in a meaningful way.
