TLDR:
- Peter Thiel’s venture capital firm, Founders Fund, invested $200 million in cryptocurrency last year.
- The investment was split evenly between Bitcoin and Ether.
San Francisco-based venture capital firm Founders Fund, founded by Peter Thiel, made a $200 million bet on cryptocurrencies last year, according to sources. The firm invested half of this amount in Bitcoin and the other half in Ether. This investment took place during a period when Bitcoin was trading below $30,000. Thiel’s firm has been an early supporter of Bitcoin, entering the market in 2014 when prices were below $1,000. Founders Fund currently manages over $12 billion in assets and has invested in over 100 companies, including Facebook, Airbnb, and SpaceX. Thiel has been a vocal advocate for Bitcoin and has described himself as a “pro-bitcoin maximalist.” He sees Bitcoin as a reserve form of money and has compared it to gold. The recent investment by Founders Fund is a further indication of the growing acceptance and interest in cryptocurrencies among mainstream investors.
