Pantera Capital’s Digital Asset Fund Decreases By 72%
The representatives of Digital Asset Fund, an investment fund owned by the venture capital firm Pantera Capital, reported that the price of the assets decreased by more than 70% in 2018. The user under the nickname Collin Crypto shared this information on Twitter, although the company’s officials haven’t officially confirmed these statistics.
In total, the assets decreased by 72.7% since the beginning of 2018, moreover this figure equaled 22.3% in August, and since the opening of Digital Asset Fund, its assets went down by 40.8%. The average annual growth rate declined by more than 50%.
Pantera Capital is considered one of the most serious players in the crypto investment market. The company's management is confident that soon the cryptocurrency industry will experience an extensive development, and equally Pantera Capital analysts aver that bitcoin will reach $21,000 by the end of 2018, and its price will be $97,000 by 2020.
In August, Pantera Capital established a fund to finance the crypto sphere. The project was supported by 90 investors, and the company was able to attract more than $70 million. The founders plan to achieve a total capitalization of $175 million.
Previously, Dan Morehead, executive director of Pantera Capital, expressed serious doubts about the prospects of the bitcoin-based ETFs. He believes that the US Securities and Exchange Commission won’t approve the bitcoin-ETF in the near future. According to the businessman, the community should be more interested in the imminent launch of the Bakkt cryptocurrency ecosystem.
Nick Szabo, a notorious cryptographer and smart contracts pioneer, expressed a similar opinion about the bitcoin-ETF on Twitter.