Billionaire Peter Thiel’s Investment Fund Purchased $200 Million in Bitcoin and Ethereum Before Bull Run: Report
According to sources with direct knowledge of the matter, billionaire entrepreneur Peter Thiel’s investment fund, Founders Fund, bought $100 million worth of Bitcoin (BTC) and $100 million worth of Ethereum (ETH) in the third quarter and early fourth quarter of 2023. The fund started acquiring Bitcoin when it was priced below $30,000 and made purchases of both crypto assets over several months.
Thiel’s Founders Fund had previously purchased Bitcoin back in 2014 but sold off its holdings before the crypto market crash in late 2022, resulting in gains of $1.8 billion from the investment. Thiel, co-founder of PayPal and Palantir, has been a vocal supporter of crypto assets in the past.
Founders Fund now manages over $12 billion in assets under management (AUM) and has previously invested in prominent companies such as Facebook, Airbnb, SpaceX, OpenAI, Stripe, Spotify, and The Boring Company.
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