Peter Thiel’s Fund Hits Big From $200M Strategic Bitcoin Investment

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Founders Fund leader and tech billionaire, Peter Thiel invested $200 million in Bitcoin and Ethereum in 2023 before the bullish run, a bold move that buttresses continued confidence in the long-term viability of digital assets in the cryptocurrency market.

According to a report by Reuters, the firm made an investment of $100 million in each of the top two cryptocurrencies in late summer or early autumn of 2023, a time when Bitcoin’s price was trading below $30,000. The former PayPal CEO first steered Founders Fund into early adoption of cryptocurrency investment when it started buying Bitcoin aggressively in 2014.

Early Bitcoin Adoption Pays Off

Founders Fund’s initial foray into Bitcoin in 2014 proved perceptive, with the firm reportedly reaping substantial profits by strategically selling its holdings before the market downturn in 2022. He reportedly made a profit of almost $1.8 billion.

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This early success laid the groundwork for its recent $200 million investment, positioning the firm as a significant player in cryptocurrency investment. Despite this success, Thiel says he regrets not investing enough in Bitcoin.

Expanding Portfolio in the Crypto Space

Beyond its notable investment in Bitcoin and Ethereum, Founders Fund has been steadily expanding its portfolio to include a diverse range of crypto startups. Leveraging its expertise and experience in identifying disruptive technologies, the firm has invested in companies like Layer N, Ondo Finance, and Block Green, among others.

This diversified approach reflects the Founders Fund’s commitment to staying at the forefront of innovation in the crypto space. By backing promising startups across various segments of the industry, the firm aims to capitalize on emerging trends and technologies, further solidifying its position as a leading investor in the crypto ecosystem.

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Maintaining Discretion Amidst Growing Interest

Despite its significant investment in cryptocurrencies, Founders Fund has opted to maintain a level of discretion regarding its specific investment strategy. Peter Thiel has openly shown his appreciation for Bitcoin, calling it a hedge against the monetary practices of central banks and a store of value comparable to gold.

Thiel’s fondness for cryptocurrencies is consistent with his overall investment philosophy, which prioritizes strategic decision-making and risk management. With Bitcoin predicted to undergo significant beneficial changes post-halving, investors are looking for ways to take advantage.

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