Peter Thiel’s Founders Fund invested $200 million in bitcoin and ether last year: Reuters

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The Block2024/02/13 09:17

By:Danny Park

The fund reportedly invested $200 million in bitcoin and ether from late summer to early fall of 2023.

Peter Thiel’s Founders Fund invested $200 million in bitcoin and ether last year: Reuters image 0

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.

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