Media: Peter Thiel’s company invested $200 million in Bitcoin and Ethereum

  • The media reported that a large venture capital company, Founders Fund, has invested a significant amount in Bitcoin and Ethereum.
  • The firm’s unrealized gains, if the investment took place, reached $66 million and $44 million, respectively.

The venture company Founders Fund, founded by billionaire Peter Thiel, has invested $200 million in Bitcoin and Ethereum, Reuters reports, citing its sources.

According to the publication, the company acquired crypto assets at the end of the third quarter of 2023. The company began buying Bitcoin when the coin’s rate was below $30,000, sources said.

The exact portfolio structure is unknown at the time of writing. Reuters noted that the company invested $100 million each in Bitcoin and Ethereum. In this case, the unrealized profit of the Founders Fund from investments in the first cryptocurrency is about $66 million.

Ethereum was trading at $1,800 in late summer 2023, according to TradingView. In this case, the unrealized gain is lower—about $44 million.

At the time of writing, Founders Fund did not comment on this information.

Reuters noted that the company has been actively investing in crypto assets since 2014. Before the start of the crypto winter at the end of 2021, the company liquidated the portfolio, receiving $1.8 billion, it was added here.

Let us recall that on February 13, 2024, the Bitcoin rate exceeded the $50,000 mark. Against this background, indicators of asset dominance and the index of fear and greed increased. The latter reached its maximum from November 2021.

USA News Today