crypto strategy

Pantera Seeking $1.25 Billion for Second Blockchain Fund – BNN Bloomberg

(Bloomberg) – Pantera Capital plans to raise $1.25 billion for its second blockchain fund, tapping into the growing appetite for digital assets among institutional investors even as prices slump, founder Dan Morehead said.

Morehead aims to shut down the fund, which will invest in stocks as well as digital tokens, by May, he said in an interview Wednesday at a conference in Singapore. He is also looking to buy additional shares in some companies that Pantera already owns, after valuations plummet.

“We want to provide liquidity to people who drop out because we’re still very optimistic about the next 10 or 20 years,” Morehead said.

Morehead is stepping up its investments after a price crash that saw a major crypto project implode, several companies go bankrupt and a string of CEOs quit. Bitcoin is stuck below $20,000, under pressure on stocks and bonds from monetary tightening by central banks from the United States to New Zealand.

Read more: Upheaval in crypto leadership gives the industry another shock

“Unfortunately, crypto pricing has become correlated to risky assets, which honestly doesn’t have to be true,” Morehead said. “Hopefully soon crypto will decouple from macro markets.”

(Updates with fund strategy details in second paragraph.)

©2022 Bloomberg LP

#Pantera #Seeking #Billion #Blockchain #Fund #BNN #Bloomberg #crypto strategy

Related Articles

Back to top button