Peter Thiel’s Founders Fund invested $200 million in Bitcoin and Ethereum last year: Reuters

Former PayPal CEO Peter Thiel’s venture capital firm, Founders Fund, invested $200 million in Bitcoin and Ethereum last year.

According to a Reuters report, the fund invested $100 million in each of the two largest cryptocurrencies between late summer and early fall 2023. At the time of purchase, the price of Bitcoin was less than $30,000.

Founders Fund began investing in Bitcoin in 2014 and reportedly made $1.8 billion by selling it before the market crashed in 2022.

Thiel himself has been a long-time Bitcoin advocate. He said that in the 2021 bull market, Thiel said he felt like he was not invested enough in Bitcoin. bloomberg report.

Founders Fund, an early investor in SpaceX and Meta, has over $12 billion in assets under management as of 2023.

His company has also backed several cryptocurrency startups, including Layer N, Ondo Finance, Block Green, and others.

Founders Fund did not immediately respond to The Block’s request for further comment.

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