Peter Thiel’s venture capital firm, Founders Fund, reportedly spent $200 million on cryptocurrencies last year, with $100 million going towards Bitcoin and another $100 million towards Ethereum. The firm began actively buying BTC and ETH in the summer of 2023 when Bitcoin was trading below $30,000. This marked Founders Fund’s re-entry into the crypto space after divesting its stake in crypto in 2022. The exact quantity of crypto assets acquired by Founders Fund has not been disclosed. The firm’s investment in cryptocurrencies follows its expansion of its crypto management team in 2023. Founders Fund has also demonstrated its support for the broader crypto ecosystem by participating in funding rounds for crypto-related startups. The firm recently participated in a $13.5 million series A funding round for Dynamic Labs, a web3 authentication platform. Established in 2005, Founders Fund is a venture capital firm focused on investing in early-stage tech companies across various sectors. Some of the notable companies backed by Founders Fund include SpaceX, Airbnb, Palantir Technologies, and Stripe.
Inside Peter Thiel’s $200m Crypto Investment: A Path to Innovation
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