Recently, Crypto investment firm Pantera Capital took a closer look at what caused the the recent troubles of the Teraa ecosystem, crypto lender Celsius, and Singapore-based crypto hedge fund Three Arrows Capital (3AC).
In the June 2022 issue of their firm’s monthly newsletter (“Pantera Blockchain Letter”), Pantera Capital gave their explanation for the the above-mentioned debacles in the crypto space. Below are some highlights from their comments about Terra, Celsius, and Three Arrows Capital.
Terra
Celsius
Three Arrows Capital
Pantera Capital launched the first cryptocurrency fund in the U.S when bitcoin was at $65 /BTC in 2013. The firm subsequently launched the first blockchain-focused venture fund. Pantera co-CIO Joey Krug co-founded Augur, one of the first decentralized applications built on Ethereum. In 2017, Pantera Capital was the first to offer an early-stage token fund.
On March 25, Pantera Capital CEO and Co-CIO Dan Morehead was interviewed by Yahoo Finance’s Brian Chung. During that interview, Morehead was asked for his prediction of where Bitcoin’s price would be a year or two from now.
“We’ve been doing this a long time, and Bitcoin has gone up 2.5X on average for 11 years, and sometimes it gets ahead of itself, and has a bubble, and sometimes it’s in a bear market, like it is now. And right now, I see 60% below that 11-year trend regression. So, our normal forecast is that a year from now, we’re going to be 2.5X higher. That puts you at about a $100,000 per Bitcoin. And although that number sounds crazy. I think it’s pretty likely to happen.“
He replied
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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