The Pantera
Capital Management LP, a cryptocurrency hedge
fund managing over US$1 billion in digital assets, recent confirmed that it’s
biggest investment lies in South Korean interoperability-focused blockchain ICON (ICX).
Dan
Morehead the Chief Executive Officer (CEO) told Bloomberg
Television in an interview this
week that he believes that the price of Bitcoin (BTC) will make a strong
recovery and even reach new all-time highs within the next year.
Amidst
this, the company’s overall investment in the market-dominant of cryptocurrency
accounts for roughly five percent of their total funds in play. The firm takes
advantage of macro-style investment plays, using overall sentiment of the
market to make calls on buying and selling. Github commits,
Twitter, mining fees are all watched via machine learning algorithms to aid
Pantera in maximizing profits.
Around
fifty percent of their capital lies in the more liquid and live
cryptocurrencies, such as Bitcoin and Ethereum, while the rest is invested in
Initial Coin Offerings (ICOs) in various stages.
ICON
(ICX) has been generating a huge amount of excitement and speculation of late
due to the impending launch of their ICO platform, scheduled for the 30th of
April, just under three days away.
The
platform, for now, will not be open to the general public for token creation
such as Ethereum’s. Those seeking to launch ICOs on the ICON blockchain must
first apply and be selected for approval and even potential funding via theloop,
part of the ICON Foundation.
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