Dan Morehead, founder and CEO of Pantera Capital, an American hedge fund company, is reportedly planning to raise $1.25 billion for a second blockchain fund.
Through Morehead's plan, the fund will be invested in digital tokens and equity right after the closing of the blockchain fund in May to attract investors.
He added that his company will provide liquidity for individuals who have given up on the crypto market because his team is confident that the digital asset is capable of thriving and earning profits in the next 10 or 20 years.
If the second blockchain fund closes as planned, it will emulate the launch of Pantera's first blockchain fund in May 2021, which is targeting a $600 million fund.
Explained, the hedge fund aims to close the $1.3 billion backed fund in doubling its target.
Thus Pantera builds products and services in the blockchain ecosystem by offering liquid token funds, early stage token funds, BTC funds and venture funds.
For context, when Bitcoin (BTC) was only at the $100 price level, Pantera was the first US crypto fund company launched in 2013 and had $4.5 billion in assets.
In the meantime, Morehead also stated in a 2019 interview that BTC has the potential to reach up to $356,000 by 2022.
