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The CEO of digital assets-focused investment firm Pantera Capital says his firm owns a handful of other crypto in addition to Bitcoin (BTC).
In a new CNBC interview, Dan Morehead says that he thinks Bitcoin and crypto still have more room to the upside this cycle.
Morehead notes that his firm has accumulated positions in three altcoins including the layer-1 protocol Solana (SOL).
“The fun thing about crypto is we’ve been doing this for 11 years, and Bitcoin has a little bit more than doubled this year…
On average, it has done that for 11 years in a row. So crypto going up double is not remarkable. We’re normally long because the markets are going to go up another huge amount, another order of magnitude possibly.
We’re typically long. We’re always just looking at which other tokens are interesting. We have a big position in TON, Telegram’s token, Solana, ONDO. Those are some of ours.”
In May of this year, Morehead revealed that Toncoin (TON) is Pantera Capital’s “largest investment ever.” According to Morehead, TON is in a unique position to leverage Telegram’s 900 million monthly active users.
“99.999% of blockchain projects are a tech idea trying to create a community – from nothing. According to CoinMarketCap, there are more than 23,000 cryptocurrencies. That’s a hard road for most.
Telegram is a community integrating blockchain technology. That’s just got to be easier.”
At time of writing, TON is trading for $6.25.
ONDO is the native asset of Ondo Finance, a decentralized exchange protocol focused on tokenizing real-world assets (RWA).
At time of writing, ONDO is trading for $1.85.
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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