Pantera plans to raise $1.25 billion for second blockchain fund: Report

"We want to provide liquidity to people who drop out because we are still very optimistic for the next 10 or 20 years," said the CEO Dan Morehead.

Dan Morehead, Founder and CEO of Pantera Capital, reportedly said the hedge fund plans to raise $1.25 billion for a second blockchain fund.

According to a September 28 Bloomberg report, Morehead said Pantera aims to shut down the blockchain fund by May. The fund would invest in digital tokens and stocks with the aim of attracting institutional investors.

“We want to provide liquidity to people who drop out, because we are still very optimistic for the next 10 or 20 years,” the Pantera CEO said, according to the report.

Pantera Capital is seeking $1.25 billion for its second blockchain fund, says founder Dan Morehead https://t.co/H5AXy55hqa< /p> — Bloomberg Crypto (@crypto) September 28, 2022

Launched in 2013, Pantera was one of the first crypto funds in the United States at a time when the price of Bitcoin (BTC) was well below $100. Morehead said in a 2019 interview that BTC has the potential to hit $356,000 by 2022. Pantera has since grown to have $4.5 billion in assets under management, according to its website.

Related: Pantera CEO bullish on DeFi, Web3 and NFT as Token2049 kicks off

If the second block reported...