The chief executive officer for crypto hedge fund Pantera Capital has revealed some of the firm’s biggest crypto positions.
Speaking in a recent interview with Thinking Crypto, Pantera CEO Dan Morehead said the venture’s firm’s largest allocations were in bitcoin, followed by ethereum.
Morehead went on to list polkadot, filecoin, augur, and 0x as altcoins the firm had allocated significant positions in. He also claimed to personally oversee and invest Pantera’s $600 million in assets in the crypto space.
In addition to outlining the firm’s investment strategy, Morehead said he was bullish on bitcoin and noted BTC’s average price increase of 200 percent year-over-year, despite the ups and downs.
He argued a market inefficiency had failed to properly price the impact of bitcoin’s halvings.
He explained,
Over the past two halvings, there have been very clear positive impulses. They start about a year and a quarter prior to the halving and they go for about 440 days after the halving. And what’s typically happened is the markets have gone up a bit into the halving, and then after the halving, over the next 440 days, they go up a ton.
Morehead said bitcoin was projected to reach $115,000 by August 2021, based upon Pantera’s stock-to-flow analysis of previous halvings.
Featured Image Credit: Photo via Pixabay.com
Credit: Source link
