Pantera Capital Partner: Cryptocurrency investment will pay more attention to fundamental indicators such as cash flow

Cosmo Jiang, general partner and portfolio manager at crypto hedge fund and venture capital firm Pantera Capital, said crypto investing will focus more on fundamentals as the industry matures. "If fundamental investing doesn't enter the industry, it means we have failed, and all assets are ultimately subject to the law of gravity," he said. "At the end of the day, the only thing that matters to investors - and it has been for thousands of years - is cash flow." "Cryptocurrencies have grown from nothing to a $3.4 trillion market cap driven by retail investors, but the only way for this asset class to keep growing is to attract institutional capital. And institutional capital only cares about fundamentals. Logically, this will be the only way to be sustainable and profitable in the future," Jiang said. Pantera has about $5 billion in assets under management, about 75% of which is locked in venture capital vehicles and the rest in liquid assets, Jiang said. (CoinDesk)