Ex-Goldman Bond Trader Builds a $5.6 Billion Crypto Behemoth [Business News Network (BNN) (Canada)]
Goldman Sachs Group, Inc. (The) (GS)
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Source: Business News Network
Former Goldman Sachs Group Inc. bond trader Dan Morehead was among the few who did, launching his first crypto fund when a Bitcoin cost less than a bag of groceries. “I was captivated,” Morehead, 56, said in an interview, calling it “the first macro trade that is truly global across all borders.” As a result, the Pantera Bitcoin Fund has returned more than 65,000% since 2013, and his Pantera Capital Management, once a traditional hedge fund that wagered on macroeconomic trends, oversaw $5.6 billion of crypto assets at year-end. That's on top of the $6 billion the firm has returned to investors. There's always a chance it'll crash and burn. Bitcoin has tumbled 17% to start the year and traded for $38,600 as U.S. markets opened Friday in New York, well below its November peak of roughly $68,000 -- a drop fueled by expectations of rising global interest rates and aggressive moves by central banks to tame soaring inflation. This is where Morehead's worlds collide. Morehead stoo
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- 4/15/24 - Beat
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Sec Filings
- 4/26/24 - Form 424B2
- 4/26/24 - Form 424B2
- 4/26/24 - Form 485BPOS
- GS's page on the SEC website