Cryptocurrencies
Pantera CEO Says Bitcoin Is ‘Screaming Buy,’ Bets on Icon
- Hedge fund CEO sees crypto growing to $4 trillion asset class
- Bitcoin losing ‘skanky’ image among institutional investors
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Bitcoin “is a screaming buy right now,” according to Dan Morehead, chief executive officer of $1 billion cryptocurrency hedge fund Pantera Capital Management LP.
In a interview with Bloomberg Television Thursday, Morehead said Pantera has about 10 percent of its investments in Bitcoins, which approached $20,000 apiece late last year before retreating to about half that in the following months. But the fund’s single largest bet is on Icon, which will let different blockchains -- digital ledgers -- talk to one another, he said.