Home Business Pantera Capital Set Raises $1.3 Billion In New Blockchain Fund

Pantera Capital Set Raises $1.3 Billion In New Blockchain Fund


Digital asset administration big Pantera Capital is ready to shut its new Blockchain Fund with $1.3 billion in funds raised, which is greater than double the unique goal of $600 million.

The fund is described by Pantera as a “new all-in-one wrapper for all the spectrum of blockchain belongings.”

In response to The Data, 75% of the capital going into Pantera’s fund comes from institutional traders and endowments, a stark distinction from its first $118 million fund from 2018 which was raised principally from particular person crypto traders.

Writing in a latest weblog put up, former Tiger Administration govt and Pantera CEO Dan Morehead stated that so far as he’s involved, “we’re achieved with the bear market” in crypto, and expects a gentle grind upward as a substitute of unstable blow-off tops and crashes.

“I lengthy advocated that because the market turns into broader, extra worthwhile, and the extra institutional possession, that the amplitude of costs swings will reasonable,” Morehead stated.

The funding veteran says relative to the historic trendline, Bitcoin is at the moment very low cost.

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And as BTC plunges beneath the $40,000 stage, Morehead stays brazenly bullish.

“Whereas we’ve had two -80% bear markets already, I imagine these are a factor of our primordial previous. Future bear markets might be shallower. The earlier two have been -61% and -54%. Sadly, there’s no free lunch. The flipside is we in all probability received’t see the 100x rallies anymore both. I believe we’re achieved with the bear market -50% and we’re on to a brand new rally cycle. The subsequent 6-12 months are more likely to see a large rally as traders flee inventory, bond, and actual property markets – for blockchain.”

“I believe that as establishments have interaction this area, all of these cycles will reasonable, fortunately. 50% bear markets are in all probability all you’re going to get going ahead,” Morehead informed Yahoo Finance final month.

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Disclaimer: These are the author’s opinions and shouldn’t be thought of funding recommendation. Readers ought to do their very own analysis.