Dan Morehead, founder and CEO of Pantera Capital, reportedly mentioned the hedge fund plans to boost $1.25 billion for a second blockchain fund.
In accordance with a Bloomberg report Sept. 28, Morehead said Pantera needed to shut the blockchain fund by Could. The fund will reportedly spend money on digital tokens and shares to attraction to institutional traders.
"We wish to present liquidity for people who find themselves giving up as a result of we're nonetheless very optimistic in regards to the subsequent 10 or 20 years," Pantera's CEO mentioned, in accordance with the report.
Pantera Capital is focusing on $1.25 billion for its second blockchain fund, says founder Dan Morehead https://t.co/H5AXy55hqa
— Bloomberg Crypto (@crypto) September 28, 2022
Pantera was launched in 2013 and was one of many first crypto funds in america at a time when the value of Bitcoin (BTC) was largely under $100. Morehead mentioned in a 2019 interview that BTC has the potential to hit $356,000 by 2022. Pantera has since grown to $4.5 billion in property underneath administration, in accordance with its web site.
Associated: Pantera CEO is bullish on DeFi, Web3 and NFTs as Token2049 kicks off
Ought to the reported second blockchain fund shut as deliberate, Pantera would launch its first blockchain fund in Could 2021 with a goal of $600 million. Cointelegraph reported in April that the hedge fund would shut the fund with round $1.3 billion -- double its goal. Pantera additionally supplied a liquid token fund, early-stage token funds, BTC funds, and enterprise funds with "publicity to corporations creating services within the rising blockchain ecosystem."