Pantera Capital announced raising $5 Million for its Bitcoin fund per a United States Securities and Exchange Commission Form D filing.
Counting this gigantic win, the company has raised an overall $134 million bitcoin funding to date since its inception in 2013 . The first US-based bitcoin fund company, it had recorded an almost 25 thousand percent return on the investment to its investors in 2017.
Pantera Capital Raises $ 134 Million, Bitcoin Fund
Considering Bitcoin’s bullish run this year and an anticipated increase of upto $20000 by the end of 2020, the performance of Pantera venture funds is expected to improve substantially. However, as per a report by CoinDesk, Pantera Funds did not perform exceptionally well as compared to other S$P 500.
Pantera Capital is a leading crypto investment firm focusing on the ventures and tokens in the digital assets and blockchain space and boasts of being one of the largest institutional crypto owners. The company aims to accelerate blockchain innovation and adoption, focusing its expertise and initiatives towards blockchain investment.
Touted as world’s first-ever virtual Currency funds, Panera Bitcoin Fund gave exponential returns to its investors in 2017, grabbing lots of eyeballs in the crypto industry. The skyrocketing Bitcoin price in 2017 was attributed to the massive percentage of returns that year. The company was founded by Dan Morehead, a former Goldman Sachs executive, to promote Bitcoin focused hedge fund, which he said was not an easy decision at that time.
In a recent investor letter, Pantera talked about the forthcoming Bitcoin Shortage resulting from the divided US government that compels the Federal Reserve to expand the balance sheet inflating Bitcoin’s price along with other assets. In the letter, Pantera promoted Pantera Bitcoin Fund as a medium for high net worth individuals to safely and quickly access bitcoin without hassle and ride the current growth wave.
The company endeavored to raise Bitcoin Funds on several occasions. However, the latest round is indeed the most substantial one for Pantera. In its first funding round, it managed to raise only 25 million; however, working hard towards the venture Capital fund since 2018, it managed to raise around 164 million.
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