Pantera Capital is seeking to raise $1.25 billion for its second blockchain-focused fund, Bloomberg reports, citing the hedge fund's head Dan Morehead. Although the pool of potential investors is unclear, Pantera Capital plans to close the fund by May 2023.
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The new fund will reportedly invest in digital tokens as well as shares in some companies the Menlo Park-based hedge fund already owns. Morehead said:
"We want to provide liquidity for people that are kind of giving up because we’re still very bullish for the next 10 or 20 years."
The Pantera CEO admitted that crypto pricing has become "correlated with risk assets," but he doesn't think that has to be true, however. He added that soon crypto will "decouple from the macro markets," but declined to elaborate on the timeframe.
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