According to a form D, filed with the United States Securities and Exchange Commission (SEC), Pantera Capital raised $ 134 million for its Bitcoin fund.
Definitely one of the largest fundraising efforts in the history of the industry, at least under the watchful eye of a regulator.
NOW AVAILABLE: Our November #Blockchain Letter
• The US Election
• #Bitcoin Shortage
• Pantera Fund Performance
• Bitcoin Price Deviation From Ten-Year Trend
• Stan Druckenmiller & Bill Miller Buy Bitcoin
• Asymmetric Opportunityhttps: //t.co/huCb2u59H0
– Pantera Capital (@PanteraCapital) November 20, 2020
To remember, Pantera Bitcoin Fund Ltd, is an investment firm focused exclusively on companies, tokens and projects related to Blockchain technology. In addition to digital currencies and Crypto assets.
Precisely, founded in 2013 as the first Bitcoin (BTC) investment company in the United States.
Pantera Capital’s collections
Actually, as the first BTC fund in the United States, Pantera realized the potential of cryptocurrency and managed to raise $ 13 million for its first public offering in 2013. Also, $ 25 million for the second.
Certainly, the venture funds that Pantera Capital raised in August 2013 and August 2014 have had a profitability of 46.5% and 15.9% until September 2019, respectively.
In fact, Paul Veradittakit, a venture partner at Pantera Capital, attributed the dramatic performance gap to the different focus and size of the funds.
Along the same lines, at the end of 2017 the performance of the Pantera fund was 25.004%. Due to the bullish run of Bitcoin that year that brought BTC to $ 20,000.
However, in August 2018 it led to the formation of a third investment fund, called Venture Fund III. Between 2018 and 2020, this fund attracted 164.7 million dollars.
In this sense, the fund focuses on investments in companies related to Blockchain, ICO tokens and related businesses. Additionally, Pantera has previously invested in Ripple, Brave, Circle, and Bitstamp, as well as ICO tokens such as 0x, Protocol, Kyber, and Polkadot.
The value of Bitcoin according to Dan Morehead
In particular, Dan Morehead, the founder and CEO of Pantera Capital, stated: “The growth of Decentralized Finance has the potential to outpace the rise of Bitcoin. Therefore, Pantera Capital is focusing its new bets on the emerging ecosystem ”.
Notably, Dan Morehead predicted that the value of Bitcoin will skyrocket in the coming years. Recently, he estimated that in 2022, the value of the cryptocurrency would rise to $ 350,000.
Instead, Peter Schiff, has again spoken out against Bitcoin. Ensuring that the recent observed increase in its value is not evidence that it is the best value asset at present.
The recent rise of Bitcoin relative to #gold in no way proves that #Bitcoin is a superior store of value. Exuberant investors are flocking to risk assets and shunning safe-havens world-wide. As the riskiest asset of them all, Bitcoin is being bought as part of the risk on-trade.
– Peter Schiff (@PeterSchiff) November 16, 2020
Finally, the collection could be an indication that Pantera Capital’s ambitions are keeping pace with the rise in the price of Bitcoin.
I close with this quote from Dan Morehead: “We believe that digital currency is at a tipping point. So it is the right time for a transition to a more institutional management ”.
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