More

    Bitcoin Outperformed Pantera Capital Hedge Fund Even With Declining Trend

    Pantera Capital’s hedge fund has supposedly underperformed, suggesting that it is less in value compared to Bitcoin’s price. The CEO, Dan Morehead has recently released his findings through a letter, which Bloomberg was first to report. It appears that his letter addresses current news regarding cryptos, continuing price drops and Pantera Capital’s overall performance. Morehead also shared a few opinions of his own, in regard to Warren Buffett.

    According to his reporting, Pantera Capital’s fund dropped in value by 26% in May alone, and a gross 50% drop by year-to-date. This clearly comes of no surprise as Bitcoin, which was once sitting at a high of USD$20,000, now has been cut down to the approximate USD$6,700.

    To add to the list of negatives, Bitcoin’s price experienced yet another drop due to the most recent, South Korean crypto exchange, Bithumb hack. Morehead also added that the fund’s decline is a result of reduced shares of “Dash, Waves, Bitshares and OmiseGO”.

    Morehead’s Views On Warren Buffett’s Stance On Crypto

    Buffett was never a fan of cryptocurrencies and continues to perceive the digital asset in a negative light. He even described Bitcoin as being a “rat poised square”. People were quick to react to the well-known investor’s comment, suggesting that he is “old-schooled” and is outdated on investment knowledge. It appears that Morehead also had his part to contribute by saying:

    “Buffett avoided the dot coms, but he also missed Amazon, Facebook, Google, Netflix, et al. […] If Berkshire buys Bitcoin as quickly as Apple – it will be in 2045. Buckle in.”

    The comment on Berkshire Hathaway, the firm Buffett is CEO of, was to pinpoint the fact that the firm purchased 75 million Apple shares, as well as an additional, 165.3 million shares that they owed in 2017. Perhaps, Morehead believes that the firm will be late once again in investing and will eventually do so in cryptos.

    Future Predictions

    Despite all the negative trends on cryptos at the moment, Morehead remains hopeful that the entire market is certain to succeed. He also went as far as saying that Bitcoin was a “screaming buy”, with the possibility of making the entire crypto market worth trillions.

    As for his predictions for 2018, Morehead believes that Bitcoin will soon bring big gains for investors, even bigger than what December 2017 proved of its potential.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Avatar
    Bitcoin Exchange Guide News Team
    B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,262FansLike
    2,712FollowersFollow
    4,095FollowersFollow

    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Venezuela Pres. Maduro Still Trying to Promote Petro With International Crypto Casino Launch

    Nicolas Maduro has at long last authorized the opening of an International Casino in a luxurious Hotel, in the city of Caracas. The casino...

    Despite Swiss Regulators Saying Libra ‘Has Failed' They Might Still Be Open To Its Launch

    The Swiss government is spooked by concerns on the sustainability of FaceBook's Libra as a global currency. This adds to regulatory concerns raised by...

    Ripple, Coinbase Invested Bitso Is Hiring A Country Manager For Its Brazil Expansion

    The Mexican crypto exchange is hiring for its expansion into the Brazilian market The new position has to “create, iterate and scale crypto-powered...

    Reserve Bank of India: Crypto's Not Banned, But Ringfenced Regulated Entities Due to Risks

    In response to a petition filed by the IAMAI over RBI’s decision to not allow regulated entities like banks to deal in cryptos,...

    Crypto Bulls Definitely on Parade, Bitcoin Is Attracting ‘Very Substantial Buying Power'

    After 2019’s choppy recovery, the crypto market is now “launching what could be a far more sustainable bull market” Mid-cap cryptos showing more...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.