The Pro-bitcoin, other cryptocurrencies and blockchain technology projects investment firm Pantera Capital announced that in the five years that she works in the market, its profits amounted to more than 10000%. She also gave her their latest forecasts on the price of bitcoin at the end of the 2018 and 2019 years.
NOW AVAILABLE: Our July #Letter Blockchain, Bitcoin Price Target = $5,000 https://t.co/AtAW6lcf1y
— Pantera Capital (@PanteraCapital) July 27th, 2018
These figures can be considered an excellent gift for an anniversary, and it is not surprising that CEO Dan Morad and investment Director Joey Krug remains positive about the future prospects of bitcoin.
“The forecast price of bitcoin -$5000”, — titled last record Pantera Capital
“No. Not now, it was our goal in 2013. Five years ago this month, was launched by Pantera Bitcoin Fund. During this time, our net profit amounted to 10136.15%”, — said in a company blog.
Reinforcing the optimism, Pantera Capital leads copies of two letters that were sent by Dan Morgado investors back in 2013, when the company began their journey.
Marched and Krug note that their original logic remains no less compelling today, because bitcoin is superior to cash, electronic Fiat money, gold, and bearer bonds and other well-known financial instruments.
“I firmly believe that bitcoin is waiting for the takeoff. I understand that from the point of view of normal standards in the securities market it sounds crazy, but I believe that within 6-8 weeks bitcoin will soar above $200… Yesterday I was talking about bitcoin with one investor, and he was somewhat skeptical: “It is like buying gold.” No, this is akin to buying gold in the year 1000 BC. 99% of the financial wealth still affects bitcoin. When that happens, bitcoin will be worth either zero or $5000″, — was stated in the letter Dan Morgado for Aug 21, 2013.
At that time bitcoin was worth $104, and by November 6, 2013, when it sent a second letter, the cryptocurrency has risen in price already to $253.
“I think it compare to how to make a decision about buying [of stock ] Microsoft in the days when they cost $0.20. It was a difficult decision and $0.10 [per share]. The passage of time is an absolutely magnificent purchase. Today bitcoin in that position. The first global currency after gold, and the first does not recognize borders payment system with a market capitalization of $3 billion? Silk Road is no more, and comes a new wave of sophisticated investors”, — was stated in the November letter, Pantera Capital.
The company also cites the historical chart of bitcoin prices since July 2010, showing steady exponential growth.
“The gold line is the trend line for this period. Based on this historical trend line can be projected that by the end of 2018 bitcoin price will be about $21 000 and $67 500 by the end of 2019. To me it seems highly convincing. This is our price forecasts at this moment,” writes Dan Marched.
If we turn to the investment portfolio Pantera Capital, here you can see a large number of well-known in cryptocurrency and the blockchain-industry names: 0x, Abra, Augur, founded by Joey Krug, Bitcoin.org, BitPesa, Bitstamp, Brave, Circle, Civic, Codex, Cypherium, DMarket, Earn, Enigma, Ethereum, Filecoin, Kin, Korbit, OmiseGo, Opskins, Polychain Capital, Ripple, ShapeShift, Xapo, zcash for etc.
In the summer of 2017 announced the establishment of Pantera ICO Fund LP — hedge funds, the main activity of which is investment in tokens produced in the different ICO. Also in the nearest plans of the company to establish a third venture capital Fund.
In June, Dan Morad stated that the price of bitcoin has reached “bottom” and now is the time to open long positions on the market.