SAN FRANCISCO, Tuesday, February 20, 2024 – Venture capital firm Founders Fund, led by billionaire investor Peter Thiel, reportedly placed a significant $200 million bet on Bitcoin and Ethereum before the recent cryptocurrency bull run, Reuters News Agency reported on February 12, 2024, citing “sources familiar with the matter.” 1
The investment spread equally between the two leading cryptocurrencies reportedly occurred from late summer to early fall of 2023, well before the recent price surge.
Bitcoin was trading below $30,000 at the time of purchase, indicating a potentially lucrative early entry point for the firm.
Thiel, a known advocate for Bitcoin, previously admitted feeling “underinvested” in the cryptocurrency after its 2021 rally.
This latest investment suggests renewed confidence in the digital asset market from a prominent Silicon Valley investor.
Despite the impressive return on investment, with Bitcoin currently trading above $40,000 and Ethereum exceeding $3,000, the future of the cryptocurrency market remains uncertain.
- Thiel’s Bold Move: https://www.reuters.com/technology/peter-thiels-founders-fund-made-200-million-crypto-investment-before-bull-run-2024-02-13/[↩]
