Crypto Hedge Fund Reports Lifetime Returns Of 10,136.15%

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Crypto Hedge Fund Reports Lifetime Returns Of 10,136.15%

Pantera Capital was one of the first hedge funds to specialize only on cryptocurrencies and blockchain when it was founded in 2013. That choice seems to have paid off nicely for the company. The business declared lifetime returns of 10,136.15%, net of expenditures and fees, in a blog post on its website. Pantera has invested in a number of cryptocurrency and blockchain-related ventures throughout the globe. For example, it is an investor in Bitpesa, a Kenyan payment network, and an early financier of Augur, a freshly established prediction market.

Boom Time For Hedge Funds

Pantera is hardly the only hedge fund that has reported excellent earnings this year. Crypto-focused hedge funds, for the most part, posted solid performance results in the previous year, as cryptocurrencies received mainstream attention and prices skyrocketed. (Also see: Cryptocurrency Hedge Funds Gained More Than 1,000% in 2017). However, their profits have diminished this year as cryptocurrency prices have fallen. (Also see: Crypto Funds Dropped 29% in March.)

Pantera Capital’s success figures in cryptocurrency are a testament to long-term thinking. The fund’s founders revealed an email they sent out in 2013 detailing the reason for investing in bitcoin, delving into the thought behind their initial choice. They equated buying bitcoin to buying gold in 1000 B.C. in it.

“99% of financial wealth has not yet addressed bitcoin.” When they do, bitcoin will be valued either zero or $5,000 per BTC. The current market price of $100 suggests that bitcoin has a 2% probability of success. I believe there is a greater than 50% likelihood that the world will embrace a global currency/payment system in which free cryptography replaces the very costly “trust” paid by banks/VISA-MasterCard/Western Union/PayPal/etc. Bitcoin has surpassed cash, electronic fiat money, gold, bearer bonds, big stone discs, and other forms of money. “It can accomplish all that each of them can,” they wrote. The business also forecasts that bitcoin will be worth $21,000 by the end of 2018 and $67,500 by the end of 2019.

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Investing in cryptocurrencies and other Initial Coin Offerings (“ICOs”) is very dangerous and speculative, and this article is not a suggestion by Investopedia or the author to do so. Because every person’s circumstance is different, a knowledgeable specialist should always be contacted before making any financial choices. Investopedia makes no guarantees or warranties about the accuracy or timeliness of the information provided on this site. The author holds a minor quantity of bitcoin and litecoin as of the date this article was published.

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