The head of the investment company Pantera Capital Dan Morad believes that the current bearish sentiment in the bitcoin market actually takes less of a concern than previous drawdowns, writes The Block.

“I must admit that the previous criptonita [2014-2015] bothered me a lot more. Then the question arose whether the blockchain work? Do not bend whether it is under the obvious at the time the regulatory risk? Today the fundamental basis of a much stronger”, — said in the podcast Marked Unconfirmed .

Earlier this week, California’s Pantera Capital raised $125 million investment for opening a venture capital Fund focused on the scope of the blockchain and cryptocurrency. According to Morgado in 2019 venture capital investment in the industry will be more important than ICO.

“In 2018 via the ICO raised $19 billion, while venture capital investment amounted to only $4 billion I think in this year everything will be different: the venture will surpass ICO. The pendulum has gone the other way”.

The new Fund Pantera Capital plans to support 30 to 50 companies. Previously created two Fund companies to date invested in a total of 44 projects.

Among the priority investment areas of Pantera Capital — custodian solution, stock exchanges, asset management, institutional tools and infrastructure.

Pantera Capital also has a stake cryptocurrency platform Bakkt, service for institutional investors Staked, start-UPS Synthetic Minds and Blockfolio.

In December last year, Pantera Capital announced that its cryptocurrency assets of the Fund, despite the bear market, rose by 60%.