- Peter Thiel's Founders Fund has made a $200 million investment in bitcoin and ether
- Thiel's fund sold crypto holdings for $1.8 billion before 2022's crypto winter.
Peter Thiel's Founders Fund made a $200 million investment in bitcoin and ether before the bull run, per report by Reuters.
Founders Fund started to purchase bitcoin when it was below $30,000 and acquired more BTC and ETH in the subsequent months, sources told Reuters.
Thiel has long been a proponent of bitcoin, linking its price rise to a critique of central banks and fiat money. During the 2021 bull run, he said he felt "underinvested" in the world's largest digital asset.
CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk offers all employees above a certain salary threshold, including journalists, stock options in the Bullish group as part of their compensation.