Pantera Capital Collects $70 million For New Crypto Fund
A large investment company Pantera Capital has launched another fund to finance the crypto sphere. According to the data provided by the US Securities and Exchange Commission, 90 investors have already supported the project and the firm managed to attract more than $70 million.
Pantera Capital is a major player in the crypto investment market. Their interest is fueled by the confidence in the soonest phase of the active industry's development. Recently, the team of the analysts at this company has predicted the growth of bitcoin's rate to $21,000 by the end of 2018 and to $97,000 by 2020.
This is the third such initiative of Pantera Capital and, according to TechCrunch, this time the founders of the fund plan to achieve a total capitalization of $175 million.
The company's two previous venture funds raised $13 million and $25 million. Pantera Capital distinguished itself by financing startups such as Circle, Bitstamp, Ripple, Korbit, and Shapeshift. At the same time, the company's investment projects have brought its clients a profit of 10,000% over the past five years.
As previously reported, the total capitalization of the cryptocurrency market was adjusted by $44 billion (17%) over the last week. If on August 6 at 04:37 (UTC), it was $258.9 billion, then on August 13 at 07:06 (UTC) it dropped to $216 billion.
Besides, Yale scientists conducted the first large-scale economic study of crypto and defined the factors that determine price trends on the crypto market.