In a submitting with the SEC the day prior to this, Bitcoin hedge fund massive Pantera Capital introduced an fairness providing of as much as $134 million — some of the biggest capital fundraising efforts within the seven 12 months historical past of the company.
Shaped in 2013 because the first-ever Bitcoin fund in the US, Pantera first of all raised a relatively measly $13 million, and later $25 million, consistent with reporting from Cointelegraph.
However in 2018, the fund directed its efforts in opposition to a bigger elevate that might consequence within the formation of a 3rd funding fund, dubbed Challenge Fund III. This new fund attracted $164 million from 2018-2020, with the majority of the capital inflows bookending crypto’s dreadful 2019 12 months.
Now, as crypto turns out poised to go into but any other raging bull marketplace, the SEC submitting signifies that Pantera has large plans forward.
Whilst there was no phrase as to whether this new elevate will lead to a brand new fund or just increase the scope of Challenge Fund III, Pantera’s newest investments and government feedback may be offering hints at its coming near near technique.
In an interview with Contelegraph, Pantera CEO Dan Morehead mentioned he believes the expansion of decentralized finance has the possible to outstrip Bitcoin’s upward thrust, and that the company is focusing their new bets at the rising monetary vertical. Moreover, Pantera turns out to have their eye at the increasing cryptoasset derivatives marketplace, as proven through a up to date funding in derivatives platform Globe.
Bitcoin bulls shouldn’t really feel scorn through the pastime in DeFi and derivatives, on the other hand. Morehead has additionally in the past made a moonshot worth goal for the most important cryptocurrency, as he as soon as referred to as for a Bitcoin worth of $350,000.