Pantera Capital CEO Dan Morehead says he’s trying past Bitcoin for giant returns in the crypto market.
Pantera Capital Management, based in 2003, is a US-based funding agency targeted solely on ventures, tokens, and initiatives in the blockchain house, managing $3.2 billion in belongings.
In a brand new interview with Bloomberg, Morehead explains that his firm is trying deeper into the crypto marketplace for funding alternatives, as Bitcoin is only one piece of the equation.
“A very vital method to consider it’s in case you’re simply lengthy Bitcoin, it’s kinda like in the 90s simply being lengthy Yahoo. There had been 30 different actually vital firms to speculate in in the 90s, and the identical right here. There are numerous totally different merchandise to be invested in.
And a very good instance can be this yr – Bitcoin is up 34%. Our hedge fund that trades the liquid tokens is up 240%. So there’s 180 share factors of alpha in investing in issues that aren’t Bitcoin.”
As for Pantera’s holdings moreover Bitcoin, Morehead says they’re invested in Ethereum (ETH) as their second-largest holding, in addition to Polkadot (DOT).
“So clearly, Ethereum is the second largest. It’s essential. It permits programmable cash. You can do sensible contracts, all types of actually attention-grabbing issues on it. Then, as Mike stated, there are newer variations of Ethereum. We’re large traders in Polkadot, which is type of a more recent model of Ethereum.”
Pantera can also be invested in protocols constructed on prime of these blockchains, equivalent to Audius (AUDIO), a decentralized music streaming platform on the Ethereum blockchain. He makes use of Audius for example to explain how blockchains are redefining our present enterprise fashions.
“It’s an effective way to point out the disruption blockchain is bringing – taking these very costly middlemen like Spotify or Soundcloud out of the center and permitting customers to work together immediately with the producers of content material, and each side get a significantly better expertise.”
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