Pantera Capital’s Paul Veradittakit Encourages Investors To Buy Bitcoin But To Diversify Crypto Assets
Paul Veradittakit Of Pantera Capital Wants You To Diversify Your Crypto Assets
2018 is coming to an end and everyone seems to have an opinion on the year. What went wrong, what went right, what were the lessons to be learned and how can we go into the new year with optimism. The same follows for the crypto community.
Recently Paul Veradittakit sat down for an interview with Cointelegraph. He is a partner at Pantera Capital, a crypto VC firm that has investments in over 70 crypto ventures. They include Abra, Bitstamp, Earn, Ripple, Shapeshift, 0x and OmiseGo.
He talked about his observation that Altcoins, even till now are highly correlated to Bitcoin. He stated that because of the markets low it is the right time to get into cryptos although one has to think about diversification of their assets.
“Putting all your eggs in one basket is probably not a good strategy. So either investing into an index, or investing into a bunch of them [altcoins] that you’re really passionate about, or even going to a fund manager [to run your holdings is logical].”
Staying on the same subject he said that this bear market is different from the ones in 2014 and 2015. He continued by saying that the altcoin bubble won’t make a comeback when there is the next BTC bull run.
Paul also believes that Bakkt was the biggest event of the year. He added:
“I think one significant event was basically Bakkt announcing that they are launching. I think that is significant because if we want to see prices increase, I think institutions are going to be a huge part of that.”
He thinks that 2019 will be the year for scalibility projects like Lightning Network. He even thinks that larger institutes will be bullish on cryptos this year as the ecosystem matures.