Pantera Capital’s Liquid Token Fund Surges with $300 Million in Assets, Boasting a 66% Increase in First Quarter Profits.
The cryptocurrency market has been buzzing with excitement as investors flock to the latest craze – Solana. There’s been a major shift in investment strategies, with Bitcoin and Ethereum taking a backseat. According to Bloomberg, lesser-known altcoins like RBN, Aevo, and STX have also played a significant role in the impressive gains seen in the first quarter.
And while Bitcoin saw a remarkable 67% surge, hitting a staggering $73,798 in mid-March, it was followed by a slight dip in the following weeks.
The crypto world was abuzz as Solana’s value skyrocketed, nearly doubling in just a short period of time. While Bitcoin’s price remained steady at $67,540, Solana soared to $174, catching the attention of investors and enthusiasts alike.
Interestingly, renowned fund Pantera had been primarily invested in Bitcoin until January, but with the anticipation of a larger bull market, they strategically decreased their Bitcoin holdings and diversified their portfolio with other highly sought-after tokens.
This bold move proved to be a wise decision, as Solana’s surge proved to be a lucrative opportunity for the fund.
Exclusive: Bitcoin strengthens amid heavy accumulation by spot ETF issuers
Consensys request SEC to approve spot Ethereum ETF
Bitcoin futures open interest hits record $36 billion ahead of options expiration
The financial world was abuzz as news broke that the fund had made a bold move. In a calculated decision, they reduced their investments in Ethereum-based tokens, citing a slew of obstacles, including the uncertain fate of U.S. approval for spot-Ether exchange-traded funds (ETFs).
This strategic shift comes from the powerhouse Pantera Capital, a leading player in the cryptocurrency market since 2013, renowned for their diverse investment offerings.
In a recent move that left many in awe, the firm snagged a significant portion of FTX’s $1.9 billion worth of Solana holdings at a discounted price.