Peter Thiel’s venture capital firm invests $200 million in Bitcoin and Ether

by | Feb 13, 2024

The venture capital firm founded by billionaire Peter Thiel is once again investing in bitcoin and ether, highlighting the renewed interest in cryptocurrency markets within Silicon Valley.

According to two sources familiar with the matter, from late summer to early fall last year, Founders Fund allocated $200 million to obtain crypto tokens, evenly split between bitcoin and ether, the two leading cryptocurrencies.

The recent undisclosed move by the renowned Silicon Valley venture capital firm underscores the revived enthusiasm of institutional investors in token investments, previously the most coveted investment strategy before the crypto market downturn in 2022.

This substantial investment signals a resurgence for crypto markets, which faced difficulties in 2022 after the collapse of crypto exchange FTX and other key players, resulting in price declines, tarnishing the industry's reputation, and triggering regulatory scrutiny.

Founders Fund, an early institutional investor in crypto, initiated aggressive bitcoin purchases in 2014. However, it later liquidated its holdings before the crypto market crash in 2022, resulting in approximately $1.8 billion in returns.

 

Source: Reuters

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