For investment firm Pantera Capital, 2020 was a very successful year – the ICO investment fund made a 500% return, and the Bitcoin fund reported a 299% return.
The company’s CEO Dan Morhed emphasized that the current growth cycle of the cryptocurrency market is significantly different from the situation in 2017. In 2020, investors focused on investing in bitcoin and ether, while in 2017 they were more willing to invest in altcoins and various tokens.
“There has been a significant shift from investing in speculative and mostly non-functioning tokens, which in 2017 occupied half of the cryptocurrency market, to the current position where market capitalization is mainly dependent on trusted assets – bitcoin and ether. These cryptocurrencies account for 86% of the market capitalization, and the remaining 5,000 altcoins share 14% of the market capitalization, ”said Morehead.
In October, the company’s management announced that Pantera Capital is ready to make a “base bet” on DeFi. According to Joey Krug, head of investment, the decentralized finance industry has a lot of promise.
Telegram channel!
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
