Pantera Capital, which predicted that Bitcoin could rise up to $ 149 thousand after the halving in 2024 in the company forecast in November, started investing in altcoins for the first time since the spring of last year.
Switched to BTC and Ether to avoid the drop
During the crypto currency declines last year, the company switched to BTC and ETH in order to get its funds out of the situation with the least loss, and shifted its investments to this area with the thought that “altcoins will outperform Ether in particular”.
Joey Krug, the company’s chief investment manager, stated that their confidence increased in this regard, especially with the rally in January, and said, “2022 was really hurtful for investment assets with a high level of risk.”
Pantera’s Liquid Token fund had lost 80% in 2022. The fund, which has invested in between 15 and 25 tokens, benefited from the rises in January and gained 47% in value. The company, which was informed at the investor meeting last week, stated that the Bloomberg Galaxy Crypto Index also lost 72% in 2022 and gained 40% in January.
Founded in 2013, the company is seen as one of the oldest firms in the crypto industry.
