Crypto Doesn’t Care About Cash Flow. That Will Soon Change, Says Pantera Capital
Cosmo Jiang, portfolio manager at Pantera Capital, says that crypto investing will get more fundamentals-oriented as the industry matures.
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Pantera Capital
Cosmo Jiang, portfolio manager at Pantera Capital, says that crypto investing will get more fundamentals-oriented as the industry matures.
Pantera Capital Management, which launched its Bitcoin Fund in July 2013, has seen a 1,000-fold increase with returns of over 132,118%.
The hedge fund started buying bitcoin back when one token cost $74.
Pantera CEO Dan Morehead believes that the cryptocurrency could be worth $740,000 by April 2028.
The large funding round was led by Pantera Capital, Binance Labs and Polychain Capital and included participation from Samsung, Matrix Partners, Foresight Ventures and others.
With two months to go before the U.S. Securities and Exchange Commission (SEC) faces another set of deadlines to decide on a large number of applications to form spot bitcoin exchange traded-funds (ETFs), analysts are speculating on how approval of such vehicles would impact the crypto industry.
The funding round was led by Pantera Capital, and included participations from Susquehanna International Group and HashKey Capital.
Despite today’s market-wide advance, the outlook for risk assets is pointing to softer prices for the next few weeks, one observer noted.