According to a news report from BlockBeats on December 28, citing sources reported by Bloomberg, Pantera Capital's Liquid Token Fund has seen an impressive turnaround, jumping 80% in value in 2023 after an 80% drop in 2022 by mid-December. The fund is now setting its sights on amplifying gains from altcoins (tokens other than Bitcoin and Ethereum) in the coming year.
Pantera portfolio manager, Cosmo Jiang, shared in an interview that historically, following a Bitcoin surge, altcoins often outperform the market during the second phase of market rallies. Jiang emphasized that the choice of token can make a substantial difference. He also mentioned that many of Pantera's limited partners have approached the firm with the aim of divesting from assets other than Bitcoin.
The core argument from Pantera Capital rests in focusing on protocols that have substantial revenue-generating potential, especially for those who believe in the industry's growth. Currently, dYdX is one of Pantera Capital's largest holdings, with Bitcoin and Ethereum combined making up less than 40% of the fund.
