Peter Thiel’s Founders Fund Invested $200M in BTC and ETH Before Bull Run
Peter Thiel’s enterprise capital agency, Founders Fund, has as soon as once more entered the crypto market, investing $200 million in Bitcoin and Ethereum.
The funding occurred between late summer time and early fall of 2023, when Bitcoin was nonetheless buying and selling beneath $30,000. Founders Fund reportedly collected each Bitcoin and Ethereum, positioning itself to learn from the following value will increase. Over the previous yr, BTC has gained almost 124%, whereas ETH has risen 75%
This is not Thiel’s first foray into crypto. He has been a vocal supporter of Bitcoin for years, typically criticizing central banks and fiat currencies. Through the 2021 bull run, he even admitted to feeling “underinvested” within the main cryptocurrency.
Founders Fund made the same pre-bull run transfer in 2017, buying $15-20 million price of Bitcoin earlier than its meteoric rise. In March 2022, simply earlier than the crypto bear market set in, Founders Fund bought most of its holdings for $1.8 billion.
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