Peter Thiel’s Founders Fund has announced a bold investment of $200 million in bitcoin and ether.
This venture capital firm, founded by billionaire investor Peter Thiel, has once again shown its confidence in the digital asset space.
Sources with direct knowledge of the matter revealed that from late summer to early fall last year, Founders Fund executed its crypto investment strategy by allocating $200 million to acquire crypto tokens.
Half of this investment was directed towards bitcoin, while the remaining half was allocated to ether, the two largest cryptocurrencies by market capitalization.
The decision to re-enter the crypto market underscores institutional investors’ growing confidence in digital assets following the tumultuous events that rocked the crypto industry in 2022.
Despite the challenges faced by the sector, the gradual recovery of bitcoin and ether prices over the past year has reignited interest among investors like Founders Fund.
The firm’s history in crypto investments dates back to 2014 when it began accumulating bitcoin. While it liquidated its holdings before the 2022 crash, Founders Fund reportedly earned significant returns from its earlier crypto ventures.
This recent investment underscores Founders Fund’s confidence in the long-term potential of cryptocurrencies, aligning with Peter Thiel’s personal belief in the value proposition of bitcoin as a store of value and hedge against traditional monetary policies.
With over $12 billion in assets under management, Founders Fund’s foray back into the crypto space marks a notable development in the ongoing evolution of digital asset investments.