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​Pantera Capital five years work profit amounted more than 10000%

​Pantera Capital five years work profit amounted more than 10000%
Jul 31, 2018 by Rico Wise

Pantera Capital, an investment company that is focusing on Bitcoin and other cryptocurrencies and technological blockchain-projects, has announced that in five years of its work the profit amounted to more than 10000%. Also, it has announced its latest Bitcoin price prognosis for the end of 2018 and 2019.

Such numbers can be considered as an excellent anniversary gift, and therefore it is not surprising that the CEO Dan Moorhead and investment director Joey Krug remain positive regarding Bitcoin future prospects.

«Bitcoin price prognosis - $5000» - Pantera Capital last entitled record

«No. Not now, it was our goal in 2013. Five years ago. Pantera Bitcoin Fund was launched five years ago this month. Since then, our net profit has amounted 10136.15%» - says the company's blog.

In support of his optimism, Pantera Capital quotes copies of two letters sent to investors by Dan Moorhead in 2013, when the company was just beginning its journey.

Moorhead and Krug note that their original logic remains equally convincing even today, as bitcoin outperforms cash, electronic fiat money, gold and bearer bonds and other well-known financial instruments.

As it was aid in Dan Moorhead’s letter on August 21, 2013: «I truly believe that Bitcoin will raise. I understand that from standards of a normal securities market point of view this sounds insane, but I believe that within 6-8 weeks, bitcoin will jump over $ 200. Yesterday I had a talk on Bitcoin with one investor, and he was somewhat skeptical: «This is akin buying gold». No, it’s like buying gold in 1000 BC. 99% of financial wealth remains affected by bitcoin. When this happens, bitcoin will be either worth zero or $ 5000».

At that time Bitcoin price was $104, and by November 6, 2013 it rose to $253, when the second letter was sent.

In Pantera Capital November letter was written: «I think it can be described as taking a decision wether to buy Microsoft [shares] in the days when they were worth $ 0.20. Event with $0.10 [per share] it was a tough decision. Over time - it turned to be an absolutely a great purchase. The first global currency after gold and the very first non-recognition payment system with a capitalization of $ 3 billion? Theres no more Silk Road, and a new wave of sophisticated investors is coming».

Along with that, demonstrating stable exponential growth, company demonstrates Bitcoin price historical chart dated July 2010.

"The gold line is the trend line for this period. The price of bitcoin will be about $ 21,000 and $ 67,500 - by the end of 2019. I’m pretty convinced of that. This is our price prognosis for the moment». - Dan Moorhead writes.

If you refer to Pantera Capital investment portfolio, you can find there a large number of names known in the crypto and online banking industry: 0x, Abra, Augur, founded by Joey Krug, Bitcoin.org, BitPesa, Bitstamp, Brave, Circle, Civic, Codex, Cypherium, DMarket, Earn, Enigma, Ethereum, Filecoin, Kin, Korbit, OmiseGo, Opskins, Polychain Capital, Ripple, ShapeShift, Xapo, Zcash and others.

In the summer of 2017 it was announced the creation of the Pantera ICO Fund LP - a hedge fund, the main activity of which is investment in tokens produced during various ICO. Also, company is planing to create a third venture fund in the nearest future.

This June, Dan Moorhead’ said that Bitcoin price has already reached its "bottom" and now it’s exactly the time to open long positions in the market

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CEO at Pantera Capital
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Pantera Capital is an investment firm focused exclusively on ventures, tokens, and projects related to blockchain tech, digital currency, and crypto assets.
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8 of 452

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