U.S. hedge fund Pantera Capital has unveiled plans to raise as much as $1.25 billion for the company’s second blockchain fund, indicating that institutional investors have a growing appetite for cryptocurrencies in spite of the latest market downturn.
Announced by Pantera Capital’s founder and chief executive Dan Morehead at a recent conference in Singapore, the drive is designed to boost the fund’s exposure to crypto next year. The CEO was quoted by Bloomberg as saying that Pantera Capital aims to close the fund by May 2023. The fund will invest in equity and digital tokens, he said.
In addition to this, Morehead declared he is also looking to buy additional stock in some companies that Pantera Capital already owns after their valuations have dropped.
“We want to provide liquidity for people that are kind of giving up because we’re still very bullish for the next ten or twenty years,” he said.
Last June, the CEO wrote in his newsletter that, despite already seeing three significant...
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