Pantera Capital is a major investment company in cryptocurrency and blockchain technology, primarily backing Bitcoin. The company’s founder, Dan Morehead, launched the Pantera Bitcoin Fund in July 2013, when he bought BTC for $74, comparing it to finding gold around 1000 BC. In 2013, Bitcoin was relatively unknown, and only 1% of financial wealth was stored in BTC.
This led to significant volatility in its value. However, Morehead believes that Bitcoin’s devaluation is out of the question. By 2024, over 300 million people will own Bitcoin globally, and currently, 5% of financial wealth is in BTC. This number is expected to grow with clearer regulations and global political guidelines in favor of Bitcoin.
Institutional investors will not allow their assets to depreciate, and the exchange-traded funds of BlackRock and Fidelity could potentially make Bitcoin worth up to $15,000 billion in the future. In December 2013, half a year after his first purchase, BTC’s exchange rate fell by 87%. Though this was a significant drop, Morehead knew as an early entrant to a valuable device that this could easily happen.
Since the start of the Pantera Bitcoin Fund, the fund’s assets have increased by another 30%, surpassing a thousand-fold return. Currently, the Pantera Bitcoin Fund has registered an increase of 165% in 11 and a half years.
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<p>The post Title: Pantera Capital: Pioneering Cryptocurrency Investment and the Surge of Bitcoin’s Value first appeared on CoinBuzzFeed.</p>
