Billed as the first bitcoin investment fund, Pantera, which also launched its own hedge fund to invest in blockchain startups, further shared their plans to travel across the US to discuss Venture Fund III and the blockchain disruption
Cryptocurrency investment firm Pantera Capital on Friday registered a lifetime return of more than 10,000 percent, in just five years from commencement.
Celebrating the fund's fifth anniversary, CEO and co-chief investment officers Dan Morehead and Joey Krug shared that "the lifetime return of the fund is 10,136.15% net of fees and expenses" via an email to its subscribers.
The letter also included two emails that Pantera Capital sent out in 2013 which forecasted the bullish rise of bitcoin (when it was trading at USD 104) to at least USD 5000 citing that "bitcoin dominates cash, electronic fiat money, gold, bearer bonds, large stone discs, etc. It can do all of the things that each of those can. It's the first global currency since gold. It's the first borderless payment system ever."
"In my opinion, it's like deciding whether to buy Microsoft back in the day at USD 0.20 a share. It was hard to do when the stock was just at USD 0.10. In the fullness of time… clearly a great trade. I believe bitcoin right now is just like that. The world's first global currency since gold and the world's only borderless payments system (frictionless to boot) at a market cap of $3bn? Now that Silk Road is gone, a new wave of sophisticated investors are entering," Morehead wrote in 2013.
"We wanted to share the original logic – as it is equally compelling today," read the recent mail.
Billed as the first bitcoin investment fund, Pantera, which also launched its own hedge fund to invest in blockchain startups, further shared their plans to travel across the US to discuss Venture Fund III and the blockchain disruption."We have organized group lunches in many cities, should you want to meet other investors who share your interest in the blockchain," Morehead and Krug wrote.