As predicted by the biggest bitcoin bulls Bitcoin price had a good recovery in April this year after having fallen to nearly about $6000. However, Pantera Capital is currently enjoying a bigger surge in trading.
According to a Bloomberg news article, compared to the 31% surge in Bitcoin, Pantera Capital surged 46 percent last month. Pantera Capital was launched in November 2017 and currently includes a number of different virtual currencies. Pantera said in a letter Wednesday, citing “dynamic trading” for the strong performance.
Pantera Capital Founder, Dan Morehead said in the letter.
“As we improve our order execution our slippage and market impact will decrease and so will our time to put new positions on, which should substantially improve performance even further,”
Many Digital Asset Fund Founders name this as the “Spring Surge”, as after having faced a rough winter after December, Bitcoin is now picking up again.
The letter further said,
“I believe that a large fraction of the downward pressure in Q1 was unintended tax selling – people who were surprised when their accountant told them how much they owed in taxes. They then had to sell crypto to pay the bill.”
Pantera also announced Wednesday that it has hired Ryan Davis, chief financial officer of Echelon Asset Management, as its new CFO. Morehead is chief executive.
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