The return on investment (ROI) of one of the largest cryptocurrency investment firms went over to 10,000% in only five years, according to latest reports.
The news comes from an email in which the co-chief investment officer Dan Morehead (and the current CEO of Pantera Capital), as well as Joey Krug, shared the figure as they celebrated the fund’s fifth anniversary.
Even though both Morehead and Krug are bullish about Bitcoin, they noted that Pantera’s “lifetime return is 10,136.15% in net profit – free of fees and expenses.”
Morehead and Krug also included two emails that the fund sent out in 2013 to illustrate this point. As they wrote:
“We wanted to share the original logic – as it is equally compelling today.” they both stated. What’s interesting is the fact that at the time, Morehead predicted that “Bitcoin will hit $5,000 because it “dominates cash, electronic money, fiat money, gold, bearer bonds, large stone discs etc. – and therefore is the first global currency since gold – and the first borderless payment system ever.”
As Morehead wrote:
“In my opinion, it’s like deciding whether to buy Microsoft back in the day at $0.20 a share. It was hard to do when the stock was just at $0.10. In the fullness of time…clearly a great trade. I believe bitcoin right now is just like that. The world’s first global currency since gold and the world’s only borderless payments system (frictionless to boot) at a market cap of $3bn? Now that Silk Road is gone, a new wave of sophisticated investors are entering.”
Pantera has since launched its own hedge fund which is specialized in investing in blockchain startups. As such, the plans for the company are to travel “over the next months to discuss Venture Fund III and the blockchain disruption.”
As the officers wrote, “We have organized group lunches in many cities, should you want to meet other investors who share your interest in blockchain.”
Russia’s Central Bank Looks Into The Pros And Cons Of CBDC
“CBDC de facto cannot provide the same level of anonymity that is provided by cash. This is certainly an advantage for regulators, but can be considered a disadvantage by users, not only those who are involved in suspicious activities, but those who are concerned about privacy.”Russia’s central bank also pointed out that central bank digital currencies can compete with commercial bank deposits when there is low inflation and not so high-interest rates. CBDCs can also become almost equal to cash but only in cases of providing liquidity and ease of use. As previously explained in almost all of the best cryptocurrency news sites, central bank digital currencies are digital currencies issued by a central bank. They have the status of a legal tender but also have elements of centralized money. Despite Russia’s central bank, the World Economic Forum also released a report claiming that there are about 40 global central banks that plan to use CBDCs. Some of the central banks interested include the Bank for International Settlements and the State Bank of Pakistan.
SBI Holdings Removes BSV But Not As A Part Of The Delisting Campaign
“It is true that we do have a business relationship with Mr. Craig Wright through our partnership with nChain. However, our decision to delist Bitcoin Cash (ABC) is unrelated to the delisting of Bitcoin SV by several non-Japanese exchanges.”SBI Holdings made clear that the BCH delisting was premeditated and a decision was brought after a long consultation with the Japanese Virtual Currencies Exchange Association. The decision comes at a time when BSV is reaching almost all headlines in every best cryptocurrency news sites but the company states it is a coincidence. As of press time, Bitcoin Cash is trading at 3.2 percent lower at $299 while Bitcoin Satoshi Vision is trading around $59 despite the massive delistings.
Renminbi Chinese Currency To Officially Become A Cryptocurrency
“It’s not really necessary to do that [to ban exchanges and mining] because in 20 years we are not going to be using bitcoin in China. Chinese people will use the RMB, only the RMB will become a cryptocurrency. The central bank of China will turn it into a digital currency.”Tapscott also gave a long explanation on decentralized exchanges as all of the best cryptocurrency news sites reported. He explained the Initial Coin Offering ban in the country and said that the government has a harsh stance towards using digital currencies. He suggested that decentralized exchanges should outperform the centralized ones since they have the ability to be more transparent and can identify ‘’bad behavior.’’ All assets, including the Renminbi Chinese currency, should join the decentralized exchanges according to Tapscott. The Chinese authorities are discussing the possible ban on crypto mining. The National Development and Reform Commission (NDRC) added crypto mining on the revised list of industrial activities. The agency believes that the crypto activities don’t provide safe production conditions. However, the country is a huge player in the bitcoin market since the Renminbi Chinese currency is often traded against the number one cryptocurrency. China is also one of the largest bitcoin mining pools owner. Bitmain for example, in 2018 operated about 11 mining farms in China so he was affected by the national agency’s reported plans. As for the blockchain technology, China is also among the places in the world with the largest number of blockchain projects. There are currently more than 264 projects. This is also one of the reasons why the Renminbi Chinese currency should become an official cryptocurrency.
Bakkt Exchange Eyeing A New York License Following Launch
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