The big crypto hedge fund is making a fresh start after a weak year in 2019.
The Bitcoin hedge fund Pantera Capital has disclosed in a new application to the American stock exchange regulator that it intends to put additional company shares worth $ 134 million up for sale
In 2013, Pantera was founded as the fund in the US, and was able to raise investment capital of 13 million US dollars and 25 million US dollars, as Cointelegraph reported at the time.
Then in 2018 the company looked to raise significantly more capital to build a third mutual fund called Venture Fund III. This was able to collect a total of 164 million US dollars from 2018 to 2020, with the majority of the funds being destroyed by a weak 2019.
Since the crypto market is currently on a strong upward trend , Pantera wants to dare a new attempt with a lot of capital from investors, as the new SEC application shows
Although it is not yet clear whether this is intended to create a new mutual fund or whether it is simply intended to expand Venture Fund III, the company’s recent words and actions may provide an indication of the strategy being pursued.
Pantera CEO Dan Morehead recently said in an interview with Cointelegraph that he believes the decentralized financial services (DeFi) sector has even greater growth potential than Bitcoin. Accordingly, his investment company wants to focus more on this area in the future . In addition, Pantera invested in the Globe crypto trading platform a few days ago , which indicates that crypto derivatives have also come into the company’s focus.
However, Bitcoin investors shouldn’t feel discouraged by this, as Morehead had already proven his exuberant optimism about Bitcoin in the past with an astronomical price forecast of $ 350,000 .
