The bitcoin price collapsed as low as $9,574 on Wednesday, sliding back below the psychological $10,000 barrier again. Traders have repeatedly failed to hold the $10k level suggesting that bears have taken hold of the market for now. Technical analysts expect bitcoin to fall further before buying pressure returns. The longer-term horizon, however, is a brighter picture. Pantera Capital sees...
By CCN: In about every four years, the Bitcoin blockchain network experiences a block reward halving, a mechanism that reduces the rate in which new bitcoin is generated or mined by miners. The block reward halving has typically served as a key fundamental factor behind the dominant cryptocurrency’s major rallies. From July 2016 to 2017, within a year following bitcoin’s block reward halving, the...
Down more than 82 percent from its all-time high at $813 billion, the crypto market technically remains neck-deep in a 15-month long bear market that began in January 2018. But, in recent months, with support from some of the largest financial institutions in the global market, the crypto industry has seen significant progress in areas including institutionalization, regulation, and adoption...
Dan Morehead, the CEO of bitcoin investment firm Pantera Capital, says everyone needs to chill out about the current Crypto Winter. Morehead reminded the myopic industry that the crypto space had weathered similar bear markets before, and this one actually bodes well for the future of bitcoin and blockchain. ‘Underlying Fundamentals Are Much Stronger’ “This is actually our...
Researchers from seven colleges across the United States are working together on a supposedly groundbreaking cryptocurrency project which they say will offer scalability beyond anything that bitcoin can offer. Will a Cryptocurrency Called Unit-e Supplant Bitcoin? Known as Unit-e, the proposed cryptocurrency will purportedly have the capacity to rival Visa and Mastercard in terms of transactions...
Pantera Capital’s CIO Joey Krug has written an extensive thesis stating Bitcoin won’t succeed as money. He stated that cash and payments are not the primary areas where blockchain technology catalyzes a paradigm shift. While Bitcoin may become digital gold, it cannot succeed as money given its volatility. Moreover, a dynamic monetary policy doesn’t exist within bitcoin which...
In a newsletter to clients sent on Thursday, Pantera Capital CEO Dan Morehead revealed that one in four initial coin offering (ICO) projects the firm has invested in could be considered as securities under U.S. regulations. Morehead wrote: “While we believe the vast majority of the projects in our portfolio should not be affected, approximately 25 percent of our fund’s capital is invested in...
In the words of the CEO of bitcoin investment firm Pantera Capital, Dan Morehead, disruptive technologies usually earn the title ‘category killers’ but in the case of bitcoin it is a ‘serial killer’. According to Morehead, this is because it will disrupt ‘dozens’ of sectors with the cryptocurrency already having demonstrated the capacity to potentially turn the tables in some sub-sectors in the...
Bitstamp, one of the oldest and largest bitcoin exchanges, has been acquired by Belgian investment firm NXMH. Fortune reports that the Brussels-based NXMH purchased an 80 percent ownership stake in the Luxembourg-based cryptocurrency exchange, which launched in 2011, shortly after the first “bitcoin bubble” drove the bitcoin price up as high as $31 and then back down to $2. Terms of the deal were...
The co-chief investment officer of one the cryptocurrency industry’s largest investment firms said that he expects the next bitcoin bull run to carry the cryptocurrency market cap 1,000 percent above its current valuation. Pantera Capital’s Joey Krug made this prediction during an interview with Bloomberg, forecasting that the next upswing could propel the cryptocurrency market cap to more than...
Crypto portfolio tracker Blockfolio has raised $11.5 million in a round of fundraising led by prolific cryptocurrency focused hedge funds Pantera Capital. Pantera Capital has maintained a positive outlook for cryptocurrency for a while. The investment firm, led by its CEO and chief investment officer Dan Morehead recently invested in market prediction platform Augur, an open source P2P oracle...
Pantera Capital, which has pioneered investments in cryptocurrency assets, has set its goal for its third venture fund at $175 million, surpassing the $25 million raised for its second fund and the $13 million from its first one, according to TechCrunch. A new filing for a Pantera venture fund offering with the Securities and Exchange Commission notes the company has raised $71.445 million in...
Pantera Capital officials continue to maintain an upbeat outlook for cryptocurrency amidst the current market downturn. In an ICO and digital asset funds conference call Tuesday, CEO and chief investment officer Dan Morehead said blockchains are the next step in the evolution of equity, while cryptocurrency is a superior form of currency. He called bitcoin the biggest disruption of this...
Audius, a decentralised, community-owned music sharing platform billed as the blockchain’s answer to Soundcloud has announced the successful completion of a $5.5 million Series A funding round as it launches the world’s first ever blockchain-based music sharing protocol. Made on August 8, 2018, the announcement revealed that the funding round was led by General Catalyst and...
As the founder of the first U.S. cryptocurrency hedge fund, Dan Morehead has seen his share of bitcoin bear markets. Speaking with CNBC on Wednesday, the Pantera Capital CEO said that he has a simple message for bitcoin investors selling into a market that has already experienced a 67 percent decline from its all-time high: stop overreacting. “The main thing to remember is that bitcoin is...
Midway through 2013, when the bitcoin price was trading at $104, cryptocurrency hedge fund Pantera Capital published an investor letter that made what at the time seemed to be a moonshot prediction: The bitcoin price, the firm said, will one day hit $5,000. Five years on, a $5,000 bitcoin price target is considered bearish, and Pantera’s bet has, to put it lightly, paid off handsomely. Crypto...
Augur, which its co-founder Joey Krug previously described as the most complex decentralized application (dApp) on the Ethereum blockchain, has surpassed a million dollars at stake and demonstrated a rapid growth rate over the past few weeks. Future of Decentralized Betting In essence, Augur is a decentralized betting platform that exists on the Ethereum network. Because it utilizes smart...
Sometimes it doesn’t pay to diversify — just ask cryptocurrency hedge fund Pantera Capital, whose fund underperformed the bitcoin price last month. According to Bloomberg, the firm’s Digital Asset Fund underperformed bitcoin during May as the cryptocurrency markets continued to decline further from the all-time highs they set in late December and early January. Pantera CEO Dan Morehead...
The cryptocurrency market has languished in recent weeks, as a widely-anticipated bitcoin price rally has yet to materialize. However, Dan Morehead, founder of cryptocurrency hedge fund Pantera Capital, says that now is a perfect time to buy. Speaking with CNBC, Morehead noted that the bitcoin price has broken below its 230-day moving average, an event which has historically proven to be an...
The cryptocurrency market has struggled to make major movements on the upside, as major digital currencies such as bitcoin and Ethereum have stabilized at $7,580 and $584 respectively. The valuation of the cryptocurrency market has slightly increased from $330 billion to $333 billion, by around 1 percent. Bitcoin’s Struggle Exactly one week ago, on May 25, the price of bitcoin was $7,530. Today...
The founder of cryptocurrency hedge fund Pantera Capital said on Thursday that he believes the cryptocurrency market cap could one day be worth $40 trillion. Dan Morehead, who is also the firm’s CEO, said in an interview with Bloomberg that he believes the fair market value of the cryptocurrency market cap is an order of magnitude or two above where it currently sits. “Obviously, we’re very...
Cryptocurrencies may soon land the white whale of the investing industry: institutional funds such as pensions and endowments. That’s according to Ari Paul, chief investment officer at cryptocurrency hedge fund BlockTower Capital, who told CNBC that he believes it’s “inevitable” that these institutional investment funds will add cryptoassets to their portfolios — sooner rather than later...
Now’s the time to get long bitcoin, a leading cryptocurrency hedge fund says. Not only is bitcoin out of the doldrums, but it’s onward and upward from here. This according to Pantera Capital Management, a cryptocurrency hedge fund with $800 million-plus in assets under management, in a letter to investors cited on Bloomberg. “For those who are new to Pantera who might think a fund...
The Telegram ICO has now raised a total of at least $1.7 billion, public documents show. According to offering documents filed with the US Securities and Exchange Commission (SEC) and dated March 29, the second round of Telegram’s much-hyped initial coin offering (ICO) raised $850 million in a sale that began on March 14. The filing reports that 94 investors contributed to the funding round...
Dan Morehead, chief executive officer (CEO) and co-chief investment officer of struggling cryptocurrency hedge fund Pantera Capital, recently claimed that even if bitcoin fails like Pets.com did during the dot-com bubble, the hedge fund would still see investors make money. According to CNBC, Morehead’s reasoning was that cryptocurrencies are revolutionary and here to stay. Using now-defunct Pets...
Bitcoin and the other leading digital coins are trading in the green on Friday. The bounce doesn’t surprise Dan Morehead, head of Pantera Capital, a $1 billion long/short cryptocurrency and blockchain hedge fund, who as an early bitcoin investor has seen this movie before, telling CNBC that bitcoin in recent days had reached a bottom. Bitcoin closed below $7,000 on Feb. 5, but it’s...
Dan Morehead, CEO and founder of Pantera Capital and a digital currency investor, told CNBC’s Squawk Box bitcoin’s price could fall 50 percent next week to last month’s lowest levels. In the long run, however, he said bitcoin will far surpass its current prices. Big blockchains such as bitcoin, Ethereum and Ripple are still young players in what will be a multi-decade run, said Morehead...
Pantera Capital, a bitcoin hedge fund launched 14 years ago by Dan Morehead, hopes to raise $100 million by the summer’s end. The fund has already garnered $35 million. Pantera recently hired Joey Krug, co-founder of Augur, a decentralized prediction market platform that raised $5.3 million in an ICO in 2015. Krug will be co-chief investment officer of Pantera’s new ICO vehicle alongside Morehead...
Chronicled, a Californian technology company founded in 2014 that leverages blockchain technology specifically for the authentication, tracking and social engagement of vintage and collectible sneakers has announced $3,425,000 in additional funding raised as a part of its Series Seed financing. The round was led by Hong Kong-based venture capital firm Mandra Capital. It also saw participants from...
In a time where password technology is so easy to breach, the world is ready for a new technology to take over. In response to the vulnerability that passwords hold, some companies have started implementing two-factor authentication. LaunchKey, on the other hand, looks to get rid of password technology altogether and take the world into multi-factor authentication. On top of that, they just...
ChangeTip’s humble origins began in the earlier days of Bitcoin, when it wasn’t as strong of a talking point of conversation for social analysts today. ChangeTip, when it was just BitcoinTip, saw early on that the Bitcoin community wanted and needed a way to show off how the technology works and promote it to people through social media. To those that may not have seen a ChangeTip bitcoin...