Pantera Foundation Buys $140 Million In Bitcoin

Matthew Gorham, CEO of the Pantera Bitcoin Foundation purchased $137 million worth of bitcoin.

141 investors joined with a minimum investment of $50,000 each.

The Pantera Bitcoin Fund is a passive Bitcoin tracker with an annual management fee of 0.75%, which is lower than many other bitcoin funds.

The fund aims to provide “fast and secure access to bitcoin, while removing the difficulty of buying and holding.”

This is the fund’s first major purchase in quite a while as a protracted pullback brought the bitcoin price back to 2017 levels.

Some institutional investors jostled back into the market last month, but the crash of FTX has once again sent everything down.

This is the first major trade by an institutional investor since the crash of FTX, a potential sign that the market is perhaps once again starting to look towards the future.

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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