Cryptocurrencies

Pantera’s Morehead Scores Big Payoff on Bets Beyond Bitcoin

Liquid-token fund more than triples on bets including Audius
Sees Bitcoin as complement to existing traditional currencies

WATCH: Pantera CEO Dan Morehead says the firm’s liquid-token fund is soaring after investing in crypto assets beyond Bitcoin.(Source: Bloomberg)

Provide news feedback or report an error

Confidential tip?

Send a tip to our reporters

Site feedback:

Take our Survey

By Sonali Basak

June 22, 2021 at 2:45 PM UTC

Updated on

June 22, 2021 at 6:00 PM UTC

This article is for subscribers only.

Dan Morehead, a veteran Bitcoin investor, is making more money at his hedge fund firm by diversifying beyond the most popular cryptocurrency.

“If you’re just long Bitcoin, it’s kind of like in the 90s being just long Yahoo -- you know, there were 30 other really important companies to invest in,” Morehead, the head of Pantera Capital Management, said in an interview at the Qatar Economic Forum, Powered by Bloomberg. “Now there are literally 100s of tokens that are liquid enough to trade.”