Pantera Capital’s Hedge Fund Underperformed Against Bitcoin Last Month

Crypto hedge fund Pantera Capital has said that its fund was outperformed by the Bitcoin price last month as market prices continued to decline.
Diversity Isn’t Always the Answer
Dan Morehead, CEO of Pantera Capital, wrote his findings in an investment letter yesterday. According to a report from Bloomberg, Pantera Capital’s Digital Asset Fund dropped 26 percent in May. Year-to-date, the fund is down by 51 percent.
Bitcoin saw its value drop by 15 percent last month; however, si