Pantera Capital Management, a crypto-oriented investment firm has generated 10,000% returns since its beginning five years ago. The company revealed its results on Friday. The co-chief investment officers Joey Krug and Dan Morehead, who is also CEO, said:“The Fund’s lifetime return is 10,136.15% net of fees and expenses.”
The executives shared internal emails for illustrating the logic behind its bullish stance on cryptocurrency and Pantera’s business decisions.
The first email written in August 2013, predicted that BTC will one day reach $5000.Morehead compared crypto investments to purchasing Microsoft shares early into the company’s existence.“In my opinion, it’s like deciding whether to buy Microsoft back in the day at $0.20 a share. It was hard to do when the stock was just $0.10. In the fullness of time…clearly a great trade. I believe bitcoin right now is just like that. The world’s first global currency since gold and the world’s only borderless payments system (frictionless to boot) at a market cap of $3bn? Now that Silk Road is gone, a new wave of sophisticated investors are entering,” Morehead said in the second email.
Despite, loss of its primary funds of Pantera in mid-April, Pantera sternly maintained its futuristic bullish crypto stance. Moreover, Morehead stated in an interview that “ crypto market cap could hit $40 trillion within ten years.
Pantera presently has about $800 million in assets under management. Since its inception, the firm has invested in many leading cryptocurrencies and distributed ledger technology companies, including Bitstamp, Polychain Capital, Korbit, 0x, and Zcash.