Pantera CEO calls 2023 'best time ever' to start a crypto company with $121B VC funding available
Crypto investment firm Pantera Capital released a ‘Year Ahead’ letter to investors on Jan. 23, in which it disclosed data showcasing the blockchain industry’s resilient nature.
CEO of Pantera Capital, Dan Morehead, shared an overview of the company’s outlook on 2023 in which he stated;
“Blockchain’s resilience in the face of a terrible macro market for risk assets and historic idiosyncratic disasters is impressive.”
In comparison to the biggest companies in the tech industry, Bitcoin has outperformed Tesla, Meta, and PayPal over the past 12 months. Pantera’s data, however, cut off on Jan. 17, meaning that it does not account for the continued rally in Bitcoin’s price. As of press time, Bitcoin is now down 48%, putting it ahead of Square on the below chart.
Pantera is highly bullish on the crypto space in 2023; it noted, “we believe this is a tremendous time to start a company in the blockchain space.” Further, the letter revealed $121 billion that was raised in the first half of 2022 is now awaiting deployment to the crypto sector.
The full letter includes a detailed review of 2022 and can be found on Pantera’s website.
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