Peter Thiel’s investment company, Founders Fund, put $200 million into Bitcoin and ether last year. They divided the investment equally between these two significant cryptocurrencies, spending $100 million on each during late summer to early fall of 2023, as reported by Reuters. At the time they bought bitcoin, its price was under $30,000.
It’s known that Founders Fund started repurchasing Bitcoin in 2014 and earned $1.8 billion from it before selling their holdings ahead of the market downturn in 2022.
Peter Thiel, who co-founded PayPal, has always supported Bitcoin. According to a statement in Bloomberg, he expressed regret for not investing more during the 2021 surge in Bitcoin’s value.
Founders Fund, which has invested early in companies like SpaceX and Meta, managed over $12 billion in assets by 2023. The firm has also invested in various cryptocurrency startups such as Layer N, Ondo Finance, and Block Green.
