The CEO of Pantera Capital, an investment firm focused on digital assets, said his company owns several other cryptocurrencies in addition to Bitcoin (BTC).
In a new interview with CNBC, Dan Morehead said he thinks Bitcoin and cryptocurrencies still have room to rise this cycle.
Morehead notes that his firm has accumulated positions in three altcoins, including Layer 1 protocol Solana (SOL).
“The interesting thing about cryptocurrencies is that we've been doing this for 11 years and Bitcoin has more than doubled this year…
On average, they have achieved this for 11 consecutive years. Therefore, it is not surprising that cryptocurrencies will double. The market will go up much more, perhaps by orders of magnitude, so you'll typically go long.
We are usually long. We always only look at which other tokens we are interested in. We have large positions in TON, Telegram's tokens, Solana and ONDO. they are part of us. ”
In May of this year, Morehead revealed that Toncoin (TON) was Pantera Capital's “biggest investment ever.” Morehead said TON is uniquely positioned to take advantage of Telegram's 900 million monthly active users.
“99.999% of blockchain projects are technical ideas that try to build a community from scratch. According to CoinMarketCap, there are over 23,000 cryptocurrencies in existence. It's a difficult path for most people.
Telegram is a community integrating blockchain technology. It should be easier. ”
At the time of this writing, TON is trading at $6.25.
ONDO is the native asset of Ondo Finance, a decentralized exchange protocol focused on the tokenization of real-world assets (RWA).
At the time of writing, ONDO is trading at $1.85.
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