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Major Crypto Hedge Fund Announces Plans to Inject $1 Billion into the Market
In a groundbreaking announcement, cryptocurrency hedge fund Pantera Capital has revealed its intention to inject a staggering $1 billion of new capital into the market. This move is set to have a significant impact on the cryptocurrency and artificial intelligence (AI) sectors.
Pantera Capital has outlined its plan to allocate $200 million to AI-related startups, signaling a strategic shift towards the burgeoning field of artificial intelligence. Portfolio manager Cosmo Jiang emphasized the belief that in the not-so-distant future, every crypto company will also operate as an AI startup. “10, 15, 20 years from now, everyone will be using artificial intelligence,” Jiang stated, underscoring the firm’s forward-looking approach.
The fund has set its sights on identifying and supporting projects that leverage AI to enhance blockchain activities. With a portfolio that already includes heavyweights such as Coinbase, Circle, and Bitstamp, Pantera Capital is well-positioned to make a significant impact in this space.
In a move that underscores its commitment to AI-focused cryptocurrency projects, Pantera Capital has created a new $1 billion fund. This substantial capital injection is expected to reshape the landscape of the industry, with the fund’s first closing anticipated in 2025. Jiang indicated that the fund is likely to invest over $200 million in AI-focused cryptocurrency projects over the next decade, representing a significant increase from its previous investments in this area.
While Jiang stopped short of confirming the exact figure, he expressed confidence in the feasibility of this ambitious plan. It is important to note that this announcement does not constitute investment advice.
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