The CEO of digital asset-focused investment firm Pantera Capital said his company owns a handful of other cryptocurrencies in addition to Bitcoin (BTC).
In a new CNBC interview, Dan Morehead said he believes Bitcoin and cryptocurrencies still have more upside in this cycle.
Morehead points out that his company has accumulated positions in three altcoins, including layer 1 protocol Solana (SOL).
“The funny thing about cryptocurrency is that we’ve been doing this for 11 years and the price of Bitcoin has just more than doubled this year…
On average, they have done so for 11 consecutive years. So it’s no surprise that cryptocurrencies are doubling. We are usually buying because the market is about to go up by another huge amount, possibly another size.
We are generally long. We are always looking at what other tokens might be interesting. We have a large position in Telegram’s tokens: TON, Solana, and ONDO. They are some of ours.”
In May of this year, Morehead revealed that Toncoin (TON) was Pantera Capital’s “largest investment ever.” According to Morehead, TON is uniquely positioned to leverage Telegram’s 900 million monthly active users.
“99.999% of blockchain projects are technical ideas that try to create a community from scratch. According to CoinMarketCap, there are over 23,000 cryptocurrencies. It’s a tough road for most people.
Telegram is a community that integrates blockchain technology. It just gets easier.”
As of this writing, TON is trading at $6.25.
ONDO is the native asset of Ondo Finance, a decentralized exchange protocol focused on tokenizing real-world assets (RWA).
As of this writing, ONDO is trading at $1.85.
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