Bitcoin price – Crypto hedge fund Pantera Capital recordsdata for large $134 million increase

Bitcoin price – Crypto hedge fund Pantera Capital recordsdata for large $134 million increase

In a submitting with the SEC yesterday, Bitcoin hedge fund big Pantera Capital introduced an fairness providing of as much as $134 million — among the many largest capital fundraising efforts within the seven yr historical past of the agency. 

Shaped in 2013 because the first-ever Bitcoin fund in the US, Pantera initially raised a relatively measly $13 million, and later $25 million, based on reporting from Fintech Zoom.

However in 2018, the fund directed its efforts in the direction of a bigger increase that might end result within the formation of a 3rd funding fund, dubbed Enterprise Fund III. This new fund attracted $164 million from 2018-2020, with the majority of the capital inflows bookending crypto’s dreadful 2019 yr.

Now, as crypto appears poised to enter one more raging bull market, the SEC submitting signifies that Pantera has massive plans forward. 

Whereas there was no phrase as to if this new increase will lead to a brand new fund or just increase the scope of Enterprise Fund III, Pantera’s newest investments and govt feedback would possibly supply hints at its forthcoming technique.

In an interview with Contelegraph, Pantera CEO Dan Morehead stated he believes the expansion of decentralized finance has the potential to outstrip Bitcoin’s rise, and that the agency is focusing their new bets on the rising monetary vertical. Moreover, Pantera appears to have their eye on the increasing cryptoasset derivatives market, as proven by a current funding in derivatives platform Globe.

Bitcoin bulls shouldn’t really feel scorn by the curiosity in DeFi and derivatives, nonetheless. Morehead has additionally beforehand made a moonshot price goal for the biggest cryptocurrency, as he as soon as referred to as for a Bitcoin price of $350,000.