Crypto hedge fund Pantera Capital has said that its fund was outperformed by the Bitcoin price last month as market prices continued to decline. 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, since January 7, the number one digital currency is down 61 percent. At the time of publishing, Bitcoin is priced at $6,786, according to CoinMarketCap.