As stated by Pantera Capital ‘s Portfolio Manager, Cosmo Jiang, all cryptocurrency businesses are soon, expected to be AI-related businesses.
He said, “10,15, 20 years from now, everyone will be using AI,” he told DL News, so saying you’re investing in an AI firm “will be as stupid as saying ‘I’m investing in a company that has a website.’”
As the portfolio supervisor at a cryptocurrency hedge fund called Pantera Capital, Jiang mentions that he is constantly on the hunt for ventures that leverage AI to enhance blockchain enterprises or in the other direction.
The crypto investment company, which includes Coinbase, Circle, and Bitstamp in its list of investments, is launching a new US$1 billion fund aimed at infusing new capital into the sector.
According to Jiang, the investment account previously contributed 15% to 20% of its total assets to projects related to AI and blockchain. He expects that the new fund will allocate an even higher figure.
This implies that Pantera, anticipated to finalize the initial round of the fund in 2025, will allocate at least US$200 million towards projects related to artificial intelligence and cryptocurrency in the next ten years.
Jiang mentioned that, although he hasn’t made a formal pledge to that amount, “the math would suggest that’s reasonable.”
