温馨提示：本站仅提供公开网络链接索引服务，不存储、不篡改任何第三方内容，所有内容版权归原作者所有
AI智能索引来源：http://www.bee.com/zh_cn/54578.html
点击访问原文链接

Pantera Capital, a 12-year veteran in crypto, is entering a new battlefield in crypto-stocks | Bee Network

进入原网站 导航首页
Pantera Capital, a 12-year veteran in crypto, is entering a new battlefield in crypto-stocks | Bee Network Login 热门新闻 备忘录启动板 人工智能代理 德西 TopChainExplorer 给 Newbee 100 倍金币 蜜蜂游戏 重要网站 必备应用程序 加密货币名人 德平 新手必备 陷阱探测器 基本工具 高级网站 交流 NFT 工具 你好、, 签出 Web3 宇宙 游戏 DApp 蜂巢 成长平台 生态 搜索 英语 充值金币 登录 下载 Web3 大学 游戏 DApp 蜂巢 生态 家•分析•Pantera Capital, a 12-year veteran in crypto, is entering a new battlefield in crypto-stocks Pantera Capital, a 12-year veteran in crypto, is entering a new battlefield in crypto-stocks分析7 年前更新怀亚特 24,543 114 Original author: Fairy, ChainCatcher

Original editor: TB, ChainCatcher

Pantera is building a “multi-currency micro-strategy investment matrix”.

As one of the earliest bettors in the 加密 world, Pantera Capital has bet on the dawn of Bitcoin, the midsummer of DeFi, and has also stepped into the deep pit of FTX.

Twelve years later, it is still active, and even more aggressive in the new wave of cryptocurrency stocks. Pantera is behind many listed companies that raise funds to buy cryptocurrencies.

What kind of VC is this veteran of crypto narratives and an immortal player in the cyclical battlefield? What new territory is he laying out now?

Pantera’s betting story Pantera Capital started betting on the crypto industry in 2013 and is one of the earliest crypto venture capitals. It launched the first investment fund in the United States dedicated to Bitcoin and bought about 2% of the worlds Bitcoin between 2013 and 2015, ultimately achieving a return of more than 1,000 times.

However, what really supports Pantera through the cycle is not a successful bet, but the ability to continuously respond to changes in market structure.

When the ICO boom started, Pantera took the lead in launching an early token fund; after the advent of DeFi Summer, it established the Pantera Blockchain Fund to provide a full range of cryptocurrency and blockchain market investment opportunities. From fund form to strategy configuration, Panteras response ideas are closely aligned with the market.

Currently, Pantera manages five major funds: venture funds, Bitcoin funds, early-stage token funds, liquid token funds, and Pantera funds. According to official website data, its managed assets exceed $4.2 billion, and the accumulated realized income is about $547 million.

Panteras pace of investment remains tight. According to RootData, it has invested in 214 projects, ranking 13th among all investment institutions, and has participated in 18 projects in the past year. The investment layout is mainly concentrated in four major sectors: infrastructure, DeFi, CeFi and blockchain games.


Its investment portfolio includes many star projects such as Circle, Ripple, Polkadot, Coinbase, and StarkNet. However, not every investment has been successful. So far, 33 projects have terminated operations, including FTX and Lithium Finance.

In 2024, Pantera made a high-profile bet on TON, believing that it had the potential to have a network of 900 million active users. This judgment prompted it to make the largest investment in the history of the fund. According to estimates by on-chain analyst AI Yi, Panteras investment in TON may exceed US$250 million. However, the price of TON has now retreated by more than 60% from its 2024 high.

Even so, Panteras investment trajectory still clearly shows the self-iteration and phased adventure of a veteran crypto VC.

New battlefield: the rise of crypto stocks and Pantera’s strategy switch At the beginning of 2025, the primary market cooled down, and liquidity and exit paths became new issues for crypto VCs. However, in this context, the coin stock wave quietly emerged.

This time, Pantera Capital once again sensed the battlefield switching. In a few months, it evaluated more than 50 listed companies with financing + buying coins as their core strategy and began to participate deeply.

In order to take a bite of this new pie, Pantera has also launched a special DAT Fund. Currently, several Pantera Fund limited partners have pledged to invest, and it is expected that a total of more than US$100 million will be invested in multiple DAT projects.

Today, its investment and layout can be seen in the micro-strategies of different currencies. The following are some of the Digital Asset Treasury (DAT) companies invested by Pantera:

It is worth noting that several companies in the table have seen their share prices rise more than 100 times in just one month. Pantera partner Cosmo Jiang calls this type of investment a win on the upside, not much loss on the downside structure.

[Note: Pantera usually enters the market when the DAT company is not yet publicly traded or is still priced close to its token net asset value (1.0x NAV), avoiding the high premium of the public market. ]

Regardless, Pantera Capital has taken a key position in this wave of cryptocurrency stocks. As crypto KOL AB Kuai.Dong said: Live, die, Pantera.

Dan Morehead, the “macro player”’s crypto turn When understanding Pantera Capitals style, one cannot avoid mentioning its founder Dan Morehead.

Dan Morehead has a very traditional background: he graduated from the Engineering Department of Princeton University, then entered Wall Street, honed his trading skills at institutions such as Goldman Sachs and Deutsche Bank, and eventually became the chief financial officer and head of macro strategy at hedge fund giant Tiger Management. At that time, he managed assets of billions of dollars and was adept at navigating global currencies and interest rates.

In 2003, he founded Pantera Capital, which was initially an ordinary investment company. It was not until 2013 that he had a four-hour in-depth discussion with two friends. That conversation completely ignited his interest in Bitcoin. Since then, Pantera has transformed into a venture capital institution in the field of encryption.

At that time, the price of Bitcoin was comparable to that of Tesla, so Morehead made a bold decision: sell all Tesla shares and bet on Bitcoin. This led to Pantera Capitals first success – the Bitcoin investment fund.

Dan Morehead once said that the key to investing is to lock in opportunities where the potential returns far outweigh the risks. Risks always exist, but what is really important is to find the right target that can bring explosive returns.

He emphasized: If you want to get excess returns, you cant follow the mainstream and invest in projects that are watched by 20 analysts in every Wall Street company. This is why we repeatedly emphasize in our investor letter that make alternative investments more alternative.

Today, although Morehead rarely appears in the public eye, Pantera Capital still retains the deep imprint he left: bold, forward-looking, and closely aligned with market structure.

Twelve years, multiple rounds of narratives, and hundreds of projects, Pantera Capital is looking for signals in chaos and reshaping paths in structural fission.

In the never-ending race of crypto, Pantera is still betting.

Original link

This article is sourced from the internet: Pantera Capital, a 12-year veteran in crypto, is entering a new battlefield in crypto-stocks

Related: Web3 lawyers’ in-depth analysis: one article details the stablecoin regulatory framework in the EU, UAE, and Singapore In previous articles, the Crypto Salad team introduced the stablecoin regulatory frameworks in the United States and Hong Kong from multiple perspectives. In addition to the United States and Hong Kong, many other countries or regions in the world have already formed relatively complete stablecoin regulatory frameworks. In this article, the Crypto Salad team selected three of the most representative countries or regions with international influence – the European Union, the United Arab Emirates, and Singapore, and used the same analysis framework and thinking logic, combined with the Crypto Salad teams blockchain project experience, to sort out the regulatory frameworks of the stablecoins of the above three countries. This article will analyze the regulatory framework of stablecoins from the following perspectives: regulatory process, regulatory documents, regulatory authorities, and the core…

#分析# 比特币# Blockchain Games# 加密# 定义# 市场# 代币© 版权声明文章版权归作者所有，未经允许请勿转载。 上一篇 This weeks featured interactive projects: Boundless Silver Medal Mission Update; Rayls Test Network Waiting List; Yellow 下一篇 From being sued by the SEC to being the bell ringer on Wall Street, the amazing Gates grandson performs the Game of Thro 相关文章 解码 Dar 开放网络：下一代 Web3 游戏的基础设施层 6086cf14eb90bc67ca4fc62b 38,297 3 MyStonks’ $6.2 million withdrawal blocked: regulatory enforcement, not platform misappropriationRecommended Articles 6086cf14eb90bc67ca4fc62b 24,651 4 Trump’s golden ticket to exoneration: CZ was granted amnesty and freedom, is there still hope for SBF? 6086cf14eb90bc67ca4fc62b 16,932 Who Is Secretly Accumulating 100 Million LINK? 6086cf14eb90bc67ca4fc62b 6,997 Airdrop Weekly Report | Jupiter Launches Solana Ecosystem Airdrop Checker; Linea Airdrop Opens for Claims September 10th 6086cf14eb90bc67ca4fc62b 23,538 Two Years of Bitcoin ETFs: From Icebreaking to Confluence in the Financialization Journey 6086cf14eb90bc67ca4fc62b 9,681 2 无评论 您必须登录后才能发表评论！ 立即登录 没有评论... 最新文章 Blockchain etabliert sich als Schlüsseltechnologie in klassischen Branchen 4 小时前 316 Polymarket vs Kalshi: Who is the King of Prediction Markets? 13小时前 575 CRCL Surges 35%: Circle’s Q4 EPS Exceeds Expectations by 169%, AI + Stablecoin Moat Continues to Deepen 13小时前 497 Jane Street Halts “10 AM Dump,” BTC Stages Strong V-Shaped Rebound, Surging Toward $70K 13小时前 433 From Terra’s Collapse to the “10 AM Smash”: How Jane Street Played Both Continents’ Markets? 13小时前 454 热门网站TempoGAIBLighter滑翔机普朗克雷尔斯BCPoker风筝人工智能 Bee.com 全球最大的 Web3 门户网站 合作伙伴 硬币卡 Binance CoinMarketCap CoinGecko Coinlive 装甲 下载蜜蜂网络APP，开始web3之旅 白皮书 角色 常见问题 © 2021-2026.保留所有权利。. 隐私政策 | 服务条款 下载蜜蜂网络 APP 并开始 web3 之旅 全球最大的 Web3 门户网站 合作伙伴 CoinCarp Binance CoinMarketCap CoinGecko Coinlive Armors 白皮书 角色 常见问题 © 2021-2026.保留所有权利。. 隐私政策 | 服务条款 搜索 搜索InSite链上社会新闻 热门推荐： 空投猎人 数据分析 加密货币名人 陷阱探测器 简体中文 English 繁體中文 日本語 Tiếng Việt العربية 한국어 Bahasa Indonesia हिन्दी اردو Русский 简体中文

智能索引记录