Pantera is now up more than 130,000% from its first Bitcoin purchase back in July 2013.
Dan Morehead, founder and managing partner of Pantera Capital — the first cryptocurrency fund in the United States — once told a skeptical investor that buying Bitcoin is like buying gold during the Iron Age.
His fund is now up over 130,000% from its initial investment, Morehead said in a Nov. 26 blog post.
“I was discussing bitcoin with an investor yesterday and he replied somewhat dismissively ‘It’s just like buying gold,’ No, it’s like buying gold in 1000 B.C,” said Morehead, quoting an investment memo he wrote in August 2013.
