‘First Bitcoin Funding Fund’ Pantera Capital Celebrates 5 Years, 10,000% Return - Inside Bitcoins

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Billed as the primary bitcoin funding fund, Pantera Capital’s fund is 5 years outdated this month. The funding agency is reporting important returns and predictions come true.

Dan Morehead, Pantera Capital CEO, predicted Bitcoin’s success in 2013:

I used to be discussing bitcoin with an investor yesterday and he replied considerably dismissively ‘It’s identical to shopping for gold.’ No, it’s like shopping for gold in 1000 B.C. 99% of the monetary wealth has but to deal with bitcoin.

Morehead believes the logic remains to be true. His predictions have been made when Bitcoin 00 had a spot worth of $100 and a market capitalization of $three billion.

I feel it’s north of 50% probability that the world adopts a world foreign money/cost system during which free cryptography replaces the very costly “belief” charged by banks/VISA-MasterCard/Western Union/PayPal/and so forth.

In 2013, Morehead mentioned that for these with a “half place,” not totally dedicated to Bitcoin funding, they’d both be celebrating if bitcoin didn’t work out. Or, if bitcoin was buying and selling at $5,000 they “would possibly want one thing stronger than wine to erase the emotions of remorse.”

He likened shopping for bitcoin then to purchasing Microsoft shares “again within the day at $0.20 a share.”

“Now that Silk Highway is gone, a brand new wave of subtle traders are coming into,” says Morehead.

California-based Pantera Capital now has upwards of $65 million invested in each blockchain tasks and cryptocurrencies themselves. Its portfolio consists of investments in Augur, BitPesa, OmiseGo, Veem, Polychain Capital and naturally, Bitcoin.

The fund’s lifetime return after 5 years, Morehead says, is 10,136.15% web of charges and bills.

Bitcoin to hit $67,500 in 2019

Pantera Capital has shared its predictions for bitcoin worth by means of to July 2019. Forecasting bitcoin to hit $21,000 by the tip of 2018, and a large $67,500 on the finish of 2019.

The fund is specializing in investments that can clear up a few of the challenges confronted by blockchain, together with scalability and worth volatility. It has just lately invested in PolkaDot and Foundation, whereas additionally dedicated to prediction market platform, Augur, and web-browser, Courageous.

Aggressive Funding in New Initiatives 

The fund competes with enterprise capital traders Digital Foreign money Group with $78 million invested and Blockchain Capital with round $71 million invested to this point. All three are aggressively investing in new tasks with a mixed 40 or extra chosen up to now twelve months.

Enterprise capital and fund investments, mixed with the continuous fundraising of particular person ICO tasks are plowing capital into blockchain in direction of its growth.

For early traders within the Pantera Capital fund, most are additionally more likely to be celebrating, but additionally fervently hoping Pantera’s predictions for 2018 and 2019 come true.

Do you suppose bitcoin will hit $21,000 by the tip of the yr?

Photographs courtesy of Shutterstock

The submit ‘First Bitcoin Funding Fund’ Pantera Capital Celebrates 5 Years, 10,000% Return appeared first on Bitcoinist.com.

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