Peter Thiel’s Founders Fund invested $200 million in bitcoin and ether last year: Reuters
The fund reportedly invested $200 million in bitcoin and ether from late summer to early fall of 2023.
Former PayPal CEO Peter Thiel’s venture capital firm Founders Fund invested $200 million in bitcoin and ether last year.
The fund invested $100 million in each of the two largest cryptocurrencies from late summer to early fall of 2023, according to a Reuters report . Bitcoin’s price was below $30,000 at the time of the purchase.
Founders Fund reportedly began investing in Bitcoin in 2014 and made $1.8 billion by selling before the 2022 market collapse.
Thiel himself has been a longtime bitcoin advocate. During the 2021 bull run, Thiel said that he feels as though he had not invested enough in bitcoin, according to a Bloomberg report.
An early investor in SpaceX and Meta, Founders Fund has more than $12 billion in assets under management as of 2023.
His firm has also backed several crypto startups including Layer N , Ondo Finance , Block Green and others.
Founders Fund did not immediately respond to The Block’s request for further comments.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Institution: Gold remains bearish in the short term, but further downside is expected to be limited
Cross-chain DeFi platform Folks Finance completes $3.2 million Series A financing
Trending news
MoreCrypto prices
More
