Pantera’s Digital Asset Fund Sees 72% Decrease YTD
Pantera Capital’s Digital Asset Fund underperforms Bitcoin year-to-date, marking serious declines downwards of 70 percent. The fund’s compound annual growth rate (CAGR) is also negative 50 percent.
The entire cryptocurrency market saw around $600 billion being wiped off its sheet in 2018. Bitcoin (BTC) [coin_schedule], the world’s largest cryptocurrency, marked a decrease of around 70 percent since its all-time high (ATH) values in January.
One of the largest digital asset hedge funds, that of Pantera Capital, released some alarming figures, outlining a 72.7 percent decline YTD. In August alone, the fund lost about 22.3 percent of its value. In aggregation, the fund is down 40.8 percent since inception, which is December 2017.
Earlier in April, the CEO of Pantera Capital Management Dan Morehead outlined that, at the time, Bitcoin was a “screaming buy.” At that point, Bitcoin was trading at around $9,000, more than 25 percent higher than its current price.
In June, Morehead once again noted that “it’s a very good time to buy” Bitcoin. Since then the cryptocurrency market’s first and foremost has lost yet another 10 percent of its value.
#Pantera Capital, #cryptocurrency