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Co-founder of Pantera Capital: Blockchain is more interesting than any other investment in the next 20 years

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2020-11-24 09:00 (UTC+8)

本文约9059字，阅读全文需要约36分钟

Pantera Capital, the first-ever Bitcoin fund in the US.

Editor's Note: This article comes fromCarbon chain value (ID: cc-value), reprinted by Odaily with authorization.

Editor's Note: This article comes from

Carbon chain value (ID: cc-value)

Compilation: Carbon Chain Value Original Team

, reprinted by Odaily with authorization.

As the first ever Bitcoin fund in the United States, Pantera Capital raised a total of $164 million from 2018 to 2020, most of which flowed into Bitcoin. For this financing, Dan Morehead said that the growth potential of decentralized finance may exceed that of Bitcoin. In addition, the recent investment in Globe seems to imply that Pantera Capital has begun to pay attention to the cryptocurrency derivatives market. In the future, they may focus their investment on these two an emerging financial field.

By Dan Morehead, Co-Founder, Pantera Capital

Compilation: Carbon Chain Value Original Team

As things stand, the Democrats will take the White House, but the Republicans will take control of the Senate - meaning the country will remain divided and both parties should be putting more pressure on the Fed to expand its balance sheet. As the Federal Reserve turns on the "money printing machine", the prices of many commodities will rise accordingly, such as gold, real estate, stocks, and even Bitcoin.

The following chart shows the comparison of the total assets of the Federal Reserve and the price trend of Bitcoin from April 2018 to now (source: official website of the Federal Reserve):

It feels like Bitcoin is going to melt up.

(Carbon chain value note: Melt-up refers to the fact that there are more and more bulls in the market, the market sentiment is super optimistic, the market continues to rise or even accelerate, and eventually leads to market collapse. This concept was introduced by the famous economist Edward Yardeni in 2016 proposed in a blog post in 2009.)

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bitcoin shortage

In a letter to investors from Pantera Capital last month, the cryptocurrency venture capital firm noted that Square’s Cash app purchased 40 percent of newly minted bitcoin in its thirty-month period of operation. Another thing worth paying attention to is PayPal. They also recently launched a bitcoin trading service, allowing customers to buy, sell and hold cryptocurrencies directly in their PayPal accounts. This move has had a huge impact on the cryptocurrency market.

It used to be very troublesome to buy Bitcoin. You needed to provide a selfie of your passport, and then wait for a few days, or even a week, for the account to be activated, and the daily transaction amount would be limited.

The result is obvious - a new round of bull market has come!

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Participating in Peter McCormack's "What did Bitcoin do?" In the podcast, Dan Morehead, co-founder of Pantera Capital, said:https://www.whatbitcoindid.com/“We have to do these podcasts and explain to Americans and Brits how bitcoin works and why bitcoin is important. But for people living in Argentina, they don’t need to listen to this show because they already understand it completely Already!"

Below, we will show you some important interview records in this podcast. If you want to know more, you can find them in

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epilogue

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As of this writing, Pantera Capital is planning a financing deal of up to $134 million, according to SEC filings. If all goes well, it will be the largest funding round in the company's seven-year history. According to relevant documents, the purpose of Pantera Capital’s financing seems to be to prepare for the next bull market.

Original link:https://panteracapital.medium.com/bitcoin-shortage-172a9205dc0