Pantera Capital’s alternative cryptocurrency hedge funds are losing double-digit numbers but its bitcoin fund is up 10,000% to date.
Pantera Capital, one of the oldest cryptocurrency investment managers, has reported heavy losses in its alternative crypto funds. According to a report by CoinDesk, a mixed fund containing ETH, XRP and other altcoins has lost more than 72.8 percent of its value since being founded in 2019. The firm’s ICO fund has similarly undergone double-digit losses, falling more than 42.2 percent since its inception.
An anonymous Pantera Capital investor told CoinDesk,
A lot of the ICO assets are relatively young compared to bitcoin. And because of their relative youth, the expectation should be that it should take time for those assets to come into their own.
Despite altcoin funds witnessing massive losses, Pantera’s flagship bitcoin fund is up 10,000% to date since being founded in 2013. The fund has undergone volatility over the years, losing 75.6% in 2018 while posting a gain of 87.7% in 2019. The fund saw its peak during bitcoin’s bull run in 2017, constituting a 22,321% increase over its inception.
According to its 2019 fiscal year numbers, Pantera recorded $470 million in assets under management across its seven funds, with more than $110 million in bitcoin.
Featured Image Credit: Photo via Pixabay.com
