The credit-investment firm Pantera Capital reported that in the five years since company foundation, its total profit amounted more than 10 000% in cryptocurrency.
No surprise that company president Dan Morehead and investment director Joey Krug still remain optimistic about Bitcoin. They stated that "the total profit of the fund since its inception was 10 136.15% minus commissions and expenses."
In 2013, in an e-mail sent by Morehead, was predicted that Bitcoin, which then traded at a price of $ 104, would grow to $ 5,000. This was explained by the fact that "it surpasses cash, electronic money, gold, etc. It can do everything the same as each of these forms of calculation. This is the first global currency since the time of gold. This is the first system of payments without borders. "
Three months later, when Bitcoin bargained for $ 253, Morehead wrote:
"In my opinion, it's like deciding whether to buy Microsoft back in the day at $0.20 a share. It was hard to do when the stock was just at $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."
Pantera, which has since launched its own hedge fund for investment in blockchain start-ups, plans to "discuss the Venture Fund III and the blockade revolution within the next few months."
"We have organized group lunches in many cities, should you want to meet other investors who share your interest in blockchain," the officers wrote.
Some of the company's recent investments include investing in an Origin start-up, focusing on the economy of joint consumption, as well as in the Basis start-up, which plans to create a "stable cryptocurrency".
At the end of last year, hedge fund Pantera Bitcoin brought investors a profit of 25,004%. Such success has been achieved because throughout the time the company bought up a lot of Bitcoins and did not sell them ever since.