In a statement to the Securities and Exchange Commission yesterday, Bitcoin hedge fund giant Pantera Capital announced a $ 134 million equity bid, one of the largest fundraising events in the company’s seven-year history.
Pantera was established in 2013 as the first Bitcoin fund in the United States and initially raised relatively small amounts of $ 13 million, then according to Cointelegraph reports, $ 25 million.
But in 2018, the fund focused on getting a bigger harvest, which led to the creation of a third investment fund called the Venture Fund III. This new fund raised $ 164 million between 2018 and 2020, with most of the capital influx coming from the dire 2019 of cryptocurrencies.
Now that the cryptocurrency appears to be entering yet another fierce beef market, SEC documents show that Pantera has big plans for the future.
While there has been no information on whether this new harvest will lead to the creation of a new fund or just the expansion of the Venture Fund III, Pantera’s recent comments on investment and management may provide a hint of its future strategy.
In an interview with Contelegraph, Pantera CEO Dan Moorhead said he believed that growth in decentralized financing could outpace the growth of Bitcoin, and that the company was focusing its new games on a new financial sector. Additionally, Pantera appears to be monitoring the expanding crypto asset derivatives market, as evidenced by its recent investment in Globe’s derivatives platform.
However, bitcoin bulls should not feel ignored by interest in DeFi and derivatives. Moorhead also previously set a target price on the moon for the largest cryptocurrency when he once called for a Bitcoin price of $ 350,000.