Pantera Capital CEO Predicts U.S. Will Sell Gold and Buy Bitcoin

Speaking on the future of monetary policy and digital assets, Morehead criticized the traditional gold reserve system, calling it outdated and symbolic of ancient wealth practices.

“The U.S. has 11 million years of workers’ wages buried in a stone pyramid in Kentucky in gold,” Morehead said, referring to the Fort Knox gold reserve. “That’s obviously very antiquated; that’s what the pharaohs did 40 centuries ago.”

He believes this massive stockpile of gold—long seen as a hedge against inflation and economic instability—no longer reflects the financial future. Instead, he predicts it will be transferred into Bitcoin over the coming years as governments adapt to the digital economy.

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The projection aligns with Morehead’s long-standing belief that BTC is emerging as a superior store of value, thanks to its scarcity, security, and portability. A $600 billion move into Bitcoin by the U.S. government, if realized, would be one of the largest sovereign shifts in financial history.

Morehead’s statement comes amid rising institutional adoption of Bitcoin and growing calls from parts of the financial world for governments to modernize their reserves.

While critics may view the prediction as extreme, the underlying sentiment is clear: the era of gold-backed security is fading—and Bitcoin may be next in line to anchor national balance sheets.

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