Pantera Capital raised about $165 million in the popular crypto fund in a filing with the Securities and Exchange Commission as we are reading more in the following crypto news.
The San Francisco-based blockchain investment company Pantera Capital raised $165 million in a recent filing with the US Securities and Exchange Commission for its crypto hedge fund. The crypto fund dubbed the Venture fund III was launched in 2018 and the reports suggested that Pantera targeted a total of $175 million. By August the same year, the company raised about $71 million from the investors according to a Form D filing with the SEC.
The next filing with the US regulator was back in 2019 and confirmed that the company raised $96 million which is a 35% increase in only one year. The Form D reveals that the revenue of the fund grew by about 130% hitting a total of $164 million in about two years which is not far from the original target. In a discussion about the market position of the company earlier this year in an interview with Thinking Crypto, Dan Morehead, the CEO of Pantera Capital said that Ethereum and bitcoin are the company’s biggest positions.
Morehead who remains bullish on Bitcoin and predicted back in March that the number one asset will hit an all-time high in a year, also noted that the company has major positions in assets such as 0x, Polkadot and Augur. Pantera led a $2.6 million funding seed round earlier this year for the decentralized derivatives exchange protocol on Binance Labs in order to expand the booming sector beyond the ETH network.
#bitcoin could hit $115,212 in Aug 2021 based on the change in the stock-to-flow ratio across each halving.
— Dan Morehead (@dan_pantera) May 5, 2020
In the meantime, the reports published in July show that Pantera noted inflation caused by the money printing spree from the US government during the ongoing coronavirus pandemic which is the exact reason why people “should get out of paper and into bitcoin” if they want to protect themselves from inflation. BTC offers a huge store of wealth since it was not inflated away and one Bitcoin is a constant fraction of the total 21 million that will ever exist, as the company explained.
Also the CEO of Pantera stated once, predicted that bitcoin will hit $42,000 by the end of the year – and climb by $356,000 by 2022. Morehead also pointed out the technological developments in the Bitcoin network. The Pantera Capital CEO stated that the number of possible transactions per second – which is a persistent problem for Bitcoin – will rapidly increase as the technology is developed.
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