The Founder’s Fund, led by Peter Thiel, former CEO of PayPal, has invested a whopping $200 million in Bitcoin and Ethereum in 2023.
Peter Thiel: The former CEO of PayPal’s fund has invested in Bitcoin and Ethereum in 2023
Last year, Peter Thiel’s fund, former CEO of PayPal, invested a whopping 200 million dollars in Bitcoin and Ethereum.
It is revealed by Reuters, which claims that the venture capital company founded by billionaire Peter Thiel, Founders Fund, would have invested a substantial amount between summer and autumn 2023.
A renewed interest from Silicon Valley in the crypto-market, therefore, with the investment taking place before the latest price surge of cryptocurrencies.
The Thiel fund has invested $200 million, half ($100 million) in BTC and the other half ($100 million) in ETH.
The present investment in crypto is not the first by Founders Fund. In fact, already in 2014, the fund would have started aggressively buying Bitcoin, but they were liquidated before the November 2022 crash, from which approximately $1.8 billion in profits were made.
Peter Thiel: the former CEO of PayPal is once again profiting from investments in Bitcoin and Ethereum
At present, therefore, the former CEO of PayPal’s fund seems to still be profitable.
And indeed, last summer, Founders Fund began buying Bitcoin when it was below $30,000. In the following months, additional BTC along with ETH were purchased.
Looking at the charts both for BTC and ETH, the trend appears to be bullish for both.
Specifically, since the end of October 2023, BTC has started its bull run which has seen it surpass $50,000 just yesterday.
As for Ethereum (ETH), on the other hand, the bull run started in mid-November, with the price going from $1900 to over $2600 today. Last summer, the price of ETH remained below $2000.
Investments in the crypto sector
Peter Thiel seems to be a major investor in crypto projects. In April 2022, during the crypto winter, the Founders Fund together with Pantera Capital, led a $20 million Series A funding round for Ondo Finance.
Actually, Ondo Finance’s was the first time Peter Thiel’s fund led an investment in a token-based project.
Not only that, in May 2021, Peter Thiel, through his Thiel Capital, would have invested to support the crypto-exchange Bullish, created by Block.One..
This involvement of the billionaire in the crypto world responds to Thiel’s own statements that, in February 2021, he explicitly expressed himself bullish on Bitcoin.