American investment firm Pantera Capital’s portfolio manager has said “smart money” is helping push bitcoin’s price higher. 

Cosmo Jiang, portfolio manager at the firm, said in a Friday CNBC interview that the next resistance for the coin’s price could be around $80,000 and that while small pullback was possible, “smart money” was now flooding into the space. 

Bitcoin surged this week on positive regulatory news coming out of the U.S. and news that the Treasury Department would at least double the size of its long-dated bond buybacks.

JUST IN: $3.8 billion Pantera Capital tells CNBC the Bitcoin price is starting to “reverse” to the upside

“There’s smart money now coming in, and there’s real fundamentals to support the rebound in prices.” pic.twitter.com/278fR8t9vx

— Bitcoin Magazine (@BitcoinMagazine) August 21, 2026