Pantera Capital CEO Dan Morehead says he’s looking beyond Bitcoin for big returns in the crypto market.
Pantera Capital Management, founded in 2003, is a US-based investment firm focused solely on ventures, tokens, and projects in the blockchain space, managing $3.2 billion in assets.
[adinserter block="1"]In a new interview with Bloomberg, Morehead explains that his company is looking deeper into the crypto market for investment opportunities, as Bitcoin is just one piece of the equation.
“A really important way to think about it is if you’re just long Bitcoin, it’s kinda like in the 90s just being long Yahoo. There were 30 other really important companies to invest in in the 90s, and the same here. There are a lot of different products to be invested in.
And a good example would be this year – Bitcoin is up 34%. Our hedge fund that trades the liquid tokens is up 240%. So there’s 180 percentage points of alpha in investing in things that aren’t Bitcoin.”
As for Pantera’s holdings besides Bitcoin, Morehead says they’re invested in Ethereum (ETH) as their second-largest holding, as well as Polkadot (DOT).
“So obviously, Ethereum is the second biggest. It’s very important. It allows programmable money. You can do smart contracts, all kinds of really interesting things on it. Then, as Mike said, there are newer versions of Ethereum. We’re big investors in Polkadot, which is kind of a newer version of Ethereum.”
Pantera is also invested in protocols built on top of those blockchains, such as Audius (AUDIO), a decentralized music streaming platform on the Ethereum blockchain. He uses Audius as an example to describe how blockchains are redefining our current business models.
“It’s a great way to show the disruption blockchain is bringing – taking these very expensive middlemen like Spotify or Soundcloud out of the middle and allowing consumers to interact directly with the producers of content, and both sides get a much better experience.”
l
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Surf The Daily Hodl Mix
[adinserter block="1"]
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any assets including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tithi Luadthong/stockphoto-graph
