In a submitting with the SEC the day prior to this, Bitcoin hedge fund massive Pantera Capital introduced an fairness providing of as much as $134 million — some of the greatest capital fundraising efforts within the seven yr historical past of the company.
Shaped in 2013 because the first-ever Bitcoin fund in america, Pantera to start with raised a relatively measly $13 million, and later $25 million, consistent with reporting from Cointelegraph.
However in 2018, the fund directed its efforts in opposition to a bigger carry that might end result within the formation of a 3rd funding fund, dubbed Challenge 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 turns out poised to go into but any other raging bull marketplace, the SEC submitting signifies that Pantera has giant plans forward.
Whilst there was no phrase as to whether this new carry will lead to a brand new fund or just make bigger the scope of Challenge Fund III, Pantera’s newest investments and govt feedback would possibly be offering hints at its drawing close technique.
In an interview with Contelegraph, Pantera CEO Dan Morehead mentioned he believes the expansion of decentralized finance has the prospective to outstrip Bitcoin’s upward push, and that the company is focusing their new bets at the rising monetary vertical. Moreover, Pantera turns out to have their eye at the increasing cryptoasset derivatives marketplace, as proven through a contemporary funding in derivatives platform Globe.
Bitcoin bulls shouldn’t really feel scorn through the passion in DeFi and derivatives, on the other hand. Morehead has additionally in the past made a moonshot value goal for the biggest cryptocurrency, as he as soon as known as for a Bitcoin value of $350,000.