Bitcoin Fund Managed by Pantera Capital Achieves 1,000x Return – Hedge Fund News
Pantera Capital’s Bitcoin Fund has hit a major milestone, raking in a jaw-dropping 1,000x return on investments made since its inception in July 2013. This mind-blowing achievement, reported by CoinDesk, showcases the exponential growth of Bitcoin over the past decade.
Back when Pantera’s Bitcoin Fund first launched, Bitcoin was trading at a mere $74 per token. The fund managed to snag 2% of the world’s total Bitcoin supply, paving the way for massive profits as the cryptocurrency skyrocketed in value over time. Today, one Bitcoin is valued near $100,000, marking a 120% increase in value in just this year alone.
In a recent social media post, Pantera’s CEO, Dan Morehead, reflected on the fund’s journey. Sharing a letter he wrote back in 2013, Morehead expressed his optimism, saying: “The price is going WAY UP. It’s going to squeeze up like a watermelon seed.” Morehead continued this analogy in a recent memo, envisioning Bitcoin’s growth as a continuous “squeezing” of that watermelon seed.
Looking ahead, Morehead predicts that Bitcoin could reach an astonishing $740,000 by April 2028, giving it a market capitalization of $15 trillion. He attributes this potential growth to the largely untapped financial markets, stating that “Ninety-five percent of financial wealth has not yet addressed blockchain.”
Exciting times lie ahead for Bitcoin investors, with the potential for even greater returns on the horizon. If you’re intrigued by the world of digital assets, funds, and investment insights, be sure to sign up for our free newsletter to stay in the loop!
