Pantera Capital is widely regarded as the first Investment Fund that focuses on the bitcoin and cryptocurrency-related investments. The investment firm has been investing in bitcoin since July 2013, and in this five-year period brought in over 10,000 percent return on investment.
A publication by the firm read “Pantera Bitcoin Fund was launched five years ago this month. The Fund’s lifetime return is 10,136.15% net of fees and expenses”. What followed were two emails written in 2013 which gave an insight into its prediction and investments in bitcoin.
Predicting Bitcoin’s Success
In both emails, Dan Morehead the predicted the success of bitcoin while calling on people to invest at the time. In the first mail was sent out when bitcoin prices were just over $100, Dan predicted a short-term target of $200 and a long-term target of $5,000. According to the mail, bitcoin at the time had only a 2% chance at success.
For Dan, however, bitcoin represented the first borderless payment system and offered much more than electronic money, gold, and cash. “I think it’s north of 50% chance that the world adopts a global currency/payment system in which free cryptography replaces the very expensive “trust” charged by banks/VISA-MasterCard/Western Union/PayPal/etc.”
In the next mail, which was written about 2 months later, Dan likened an investment in bitcoin [BTC] to an investment in Microsoft before its heyday. By the time, BTC had surpassed the $200 short-term prediction and was trading at $258.
Prediction: Bitcoin [BTC] to Soar to $21k by Year-End, $67k by 2019
Pantera Capital also shared its predictions for bitcoin [BTC] price through to July 2019. According to its forecast, bitcoin will rise to $21,000 by the end of the year and will continue to increase to hit a $67,500 by the end of next year.
Pantera Capital now has over $65 million invested in cryptocurrencies and blockchain projects. The California-based firm has investments in several promising projects including Augur, BitPesa, OmiseGo, Veem, Brave web browser, and Polychain Capital. I recently invested in stablecoin startup, Basis; and sharing economy startup, Origin.
Solomon Sunny is the market reporter for Smartereum, one of the global leaders in Ethereum, blockchain and currency news. He produces technical price updates on digital currencies and writes recent developments about blockchain.