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Though Cryptocurrency market is not observing a great time, the officials of Pantera Capital continues an upbeat outlook for the future. The CEO and chief investment officer Dan Morehead, states that cryptocurrencies are a superior form of currency. In an ICO and digital asset funds conference call on Tuesday, he called bitcoin the biggest disruption of this generation and that blockchains are the next step in the evolution of equity

The Hedge fund manager has been a perpetual crypto optimist, he has predicted that the cryptocurrency market cap could one day be worth $40 trillion. Though Pantera’s Digital Asset Fund hasn’t been performing too well, it hasn’t dampened Pantera’s enthusiasm. The fund has gone down 23.7%, while bitcoin is down by 20.9%, since December.

He also noted that most investors in Pantera’s funds generally fail to follow this rule as most subscriptions are purchased when the fund prices are high. Morehead further added that the current bear market is one of seven that bitcoin has been through, it’s as low as it’s going to get, and in 10 to 12 months, it will be markedly higher.

In his bid, Morehead explained his long-term obsessive optimism for blockchain technology and cryptocurrency. According to him. Blockchains are the “final piece” of the protocol structure that will enable to move funds without paying expensive third parties. Bitcoin is a “serial killer,” implying that it will affect many different use cases. Just like the Internet, it took time to develop in the beginning and now lead use cases, like Uber.

As per Morehead, blockchain is the most “asymmetric risk-reward trade,” i.e you can’t lose everything upon investing. Furthermore, an array of funds invested in bitcoin have the potential to rise in value 25 times, which is not offered in other investment opportunities. He added that “I think we’re heading towards a post-capitalist era.” While in capitalism, a wealthy individual invests to bring gain, this is an “interregnum period,” where people who were not wealthy created valuable technologies.

“Now we’re going to have ‘cooperatively owned’ technologies that are very valuable.”

Pantera’s Investments

Against the backdrop of a bearish cryptocurrency market in 2018, Pantera Capital has also struggled like other funds have. Their saving grace is their belief in maintaining a diversified investment portfolio. Thus, Pantera’s digital asset funds typically hold 30 different cryptocurrencies. Most recently Pantera Capital has invested in Augur, an open source P2P oracle and prediction market platform built on Ethereum.

Pantera’s investment strategy is to invest early on in order to maximize returns through early access to token sales of the most promising blockchain protocols. Joey Krug, co-chief investment officer, states that with the aid of an ICO, investors can move in and out of a liquid asset, unlike traditional equity. He added that in the future, a lot of things will come from returns from assets with smaller market caps.