Bitcoin’s emergence and growth have changed the financial industry massively. But few have capitalized from this growth like Pantera Capital. Established as one of the first institutional investors in the crypto market, Pantera Capital has made 131,000% lifetime returns after Bitcoin’s price rose to near $100,000 after the US elections.
The performance of the fund also speaks about the vision and courage of the company which is spearheaded by Dan Morehead who invested heavily in Bitcoin.
Dan Morehead is a Wall Street veteran and a pioneer in the blockchain and crypto space. He Started Pantera Capital in 2003 and since then it become a great crypto hedge fund company. Morehead’s early predictions about Bitcoin, which were backed by substantial investments, have paid off exponentially. This has proven Pantera as a leader in the digital asset revolution.
Morehead recently posted a message he had sent in July 2013 when one Bitcoin was only traded at $65. At that time, he said that the cryptocurrency had already gone through its initial test phase and was likely to grow exponentially. Filled with confidence regarding his prognosis, Morehead invested 30,000 Bitcoins personally, and Pantera Capital bought 2% of the global Bitcoin supply between 2013 and 2015.
Comparing Bitcoin’s early investment potential to “buying gold in 1000 B.C.,” Morehead believed the cryptocurrency represented an untapped market. He noted that in 2013, only 1% of financial wealth had addressed Bitcoin. He says today, 95% of the world’s wealth has not embraced cryptocurrencies meaning their adoption is likely to grow significantly.