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.”
Justin Sun Proves Crypto Is Not A Scam By Hiring A Former SEC Official
“We’re ready to fully embrace regulation here. We’ve just hired our first head of compliance, who previously worked for the SEC for almost eight years.”TRON’s founder wants to make sure that TRON is fully regulated in the United States but also Korea and Japan. He made a point that Blockchain is a like a new operating system and that the worlds need to embrace it and be more optimistic towards regulation. He continued saying:
‘’The SEC, I think also sees the blockchain as good opportunity for innovation in the United States. I’m hoping that this year the SEC will license and regulate coin-based exchanges. This year will be the year of full regulation.’’One of the ways that Sun can make blockchain mainstream is by launching the BitTorrent Token on the Binance Launchapd. BitTorrent is a file sharing protocol that serves 100 million users in more than 130 countries. Sun acquired BitTorrent for $126 million last year. However, former chief strategy officer Simon Morris of BitTorrent said that there is no possible way for the TRON blockchain to be able to handle the transactions conducted on BitTorrent’s network but at the end, he ended up being dismissed as an incompetent employee.
UN Thinks Bitcoin & Crypto Are “The New Frontiers” In Finance, Focusing On Ripple And IOTa
“Cryptocurrencies represent a new frontier in digital finance and their popularity is growing. The decentralized networks for cryptocurrencies, bitcoin being a well-known example, can keep track of digital transactions. They enable value to be exchanged and can give rise to new business models which would otherwise require significant regulatory and institutional commitments." the report states.According to the UN, blockchain and crypto have many use cases. As it is explained in the document:
"For example, a value token called ClimateCoin is being considered as a basis for creating a global market for carbon emissions, allowing peer-to-peer exchange of carbon credits and a direct connection with the Internet of Things. It would then be possible for devices to calculate their own carbon emissions and purchase carbon credits to offset those emissions."The document also focuses on innovation and how it comes from inherent trust, citing that "the innovativeness of this system lies in the way in which the various parts combine to create the trust and guarantees that the traditional financial system derives from institutions and regulation."
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