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Ceres, a advertising and marketing agency based mostly in Japan, has simply turn out to be the newest investor within the San Francisco-based blockchain and cryptocurrency hedge fund Pantera Capital.
On Feb. 28, Ceres introduced on its web site that they had been supplying Pantera an undisclosed quantity of yen in the direction of the group’s third crypto fund.
As the primary Bitcoin fund in the USA, Pantera was fast to see the potential in cryptocurrency and raised $13 million for its debut providing in 2013, and $25 million for its second. The group’s third enterprise fund, dubbed Pantera Enterprise Offshore Fund III LP, was registered in August 2018.
The 10-year, $175-million fund is targeted on investments in blockchain-related firms, ICO tokens, and associated companies. Pantera has beforehand invested in Ripple, Courageous, Circle, and Bitstamp in addition to ICO tokens like 0x, Protocol, Kyber, and Polkadot.
Ceres lively within the crypto area
This isn’t Ceres’ first foray into the world of cryptocurrency. The advertising and marketing firm has been actively investing in Xtheta, a licensed Japanese crypto trade.
Ceres additionally runs a token service known as Moppy, a rewards system during which factors could be exchanged for money or digital foreign money. With over seven million customers in Japan, there’s a robust similarity between points of Moppy and present blockchain expertise.
Pantera goes lengthy
Pantera Capital Founder and CEO Dan Morehead has lengthy predicted the worth of Bitcoin will soar within the coming years. Most lately, he estimated the worth of the cryptocurrency would rise to $356,000 by 2022.
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