Crypto and blockchain investment firm Pantera Capital announced its whopping 10,136.15% net profit in crypto investments, according to the firm’s Medium post on July 28, which also marks Pantera’s five years in the crypto industry.
Zero Or $5,000
The post was originally addressed to the crypto community, which revealed the firm’s train of thought regarding cryptos, specifically Bitcoin. Back in 2013, Pantera already had that resolute belief that Bitcoin, which was originally trading at $104.48 on August 21 of that year, could either be worth zero or $5,000 per piece in the near future.
Dan Morehead, Pantera’s CEO, said that if Bitcoin indeed reached either of the two and its investors failed to grab the opportunity, there could be two scenarios: they will either split a bottle of wine over how Bitcoin could have made it big, but “it just didn’t work,” or, “if it’s trading at $5,000, [they] might need something stronger than wine to erase the feelings of regret.”
A couple of months after his letter to potential crypto investors, he announced that Bitcoin was already worth $253.69 each.
Morehead explained in the Medium post:
“In my opinion, it’s like deciding whether to buy Microsoft back in the day at $0.20 a share. It was hard to do when the stock was just at $0.10. In the fullness of time…clearly a great trade. I believe Bitcoin right now is just like that.”
Pantera projects 2018 to end with Bitcoin being priced at $21,000, and $67,500 at the end of 2019. As of the time of writing, one Bitcoin is worth $8,170.28, according to CoinMarketCap.
“The Future Has Arrived”
Pantera Capital, the first American Bitcoin investment firm, has achieved a lot since its launch in 2013. Currently, it has invested in many successful endeavors such as Augur, Circle, Ripple, Zcash, among many others.
The firm just doesn’t intend to stop its momentum—according to the Medium post, the firm’s executives and investors are in New York right now until August 3 to discuss Venture Fund III and the blockchain disruption over lunch. They will be heading to different cities around the world in a span of four months, hopefully, to meet with other potential investors.
Morehead concluded the post, saying that “the future has arrived.” Indeed it has, and Pantera was one of those that helped pave the way.
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