- 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.
According to CoinDesk Indices data, bitcoin (BTC) has increased nearly 124% in the last 12 months, while ether (ETH) has risen 75%. The CoinDesk 20 Index (CD20) has rallied approximately 86% in the same period.
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.
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Founders Fund sold most of its crypto holdings for $1.8 billion in March 2022, just before crypto winter began, the Financial Times reported last year. Founders Fund made a previous investment in bitcoin to the tune of $15 to $20 million during the 2017-2018 bull market.
Thiel also backed the Bullish group, operator of an institutional crypto exchange, in a 2021 round, two years before it purchased CoinDesk from Digital Currency Group.
UPDATE (July 15, 2024, 19:25 UTC): Adds timing details to disclosure about Thiel's Bullish investment.