Pantera Capital is one of the investors in DeFi Development Corp, and Santori is also a member of the company’s board. He made these comments during an X Space session hosted by The Block on May 21.

According to Santori, the company’s shift from a real estate software firm to accumulating Solana earlier this year was strategically planned. He said, “We figured this would be a more efficient way to stack Solana than an ETF for numerous reasons, one of them being our active participation in DeFi.”

Santori further explained that DeFi Development Corp holds 400,091 SOL as of the time of writing. The firm initially purchased $9.6 million worth of the token in April and also shared plans to acquire an unidentified Solana validator business worth $3.5 million on May 5. This acquisition would support self-staking of the company’s SOL holdings.

“Staking is the initial strategy, something ETFs are not capable of currently,” added Santori. As an operational company, DeFi Dev Corp can also provide liquidity in DeFi, thus participating in liquidity pools. These are options not available to a simple, passive fund.

As of May 21, the U.S. Securities and Exchange Commission has not approved any Solana ETFs. It has yet to decide whether crypto ETFs can stake assets. A ruling on Ethereum ETF staking rules was postponed on April 14, as more time was needed to assess the long-term regulatory implications.

Marco Santori joined Pantera Capital in April after serving as the chief legal officer at crypto exchange Kraken. He also joined the board of DeFi Development Corp in the same month. As of publication, Solana was trading at about $171 per token.

The post Santori of Pantera Capital Highlights the Advantages of DeFi Dev Corp’s Solana Strategy appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.

Pantera is amongst the leading US crypto investment firms. Speaking to Bloomberg, Dan said that their company believes Bitocin prices would be between $1,10,000 to $1,15,000 by the end of 2021. Supporting his claim, Pantera CEO said that since its inception, Bitcoins have on an average “tripled” every year and it is highly unlikely that it will not hold on to the trend this year and in the years to come. 

Commenting on the latest from Elon Musk, who backtracked on his earlier populist stand to accept Bitcoins as payment for Tesla cars citing environmental concerns, Dan Morehead said that it will only have a short-term impact and will not deter Bitcoins from crossing the $100k mark this year. 

Demonstrating his confidence in the future of the crypto markets, he said that Bitcoins are only 40% of the market and the majority of the 60% tokens do not rely so heavily on energy consumption and therefore, the “energy issue” is unlikely to be an impediment to the growth of the market on the whole. 

The post A Major Crypto Investment Firm’s CEO Says Bitcoin Prices Will Double In Next 5-6 Months appeared first on Crypto Market Insights: Dive In with CryptoUpdate.io.