Founders Fund, the venture capital firm founded by billionaire Peter Thiel, has invested $100 million in bitcoin, according to exclusive sources. technology/peter-thiels-founders-fund-made-200-million-crypto-investment-before-bull-run-2024-02-13/”>informed
Founders Fund, one of the first institutional investors in bitcoin, initially bought btc in 2014, but liquidated its holdings before the 2022 crisis, earning approximately $1.8 billion. The company resumed its investments in bitcoin last summer, strategically acquiring bitcoin and another cryptocurrency when the price was below $30,000.
Thiel, known for his libertarian views and co-founder of PayPal and Palantir, has in public endorsed bitcoin, praising its attributes as a store of value and protection against central bank policies. With assets exceeding $12 billion under management, Founders Fund continues to expand its investment portfolio, with a renewed focus on crypto companies.
This resurgence comes after a challenging period for the bitcoin market in 2022, marked by the collapse of major players such as cryptocurrency exchange FTX. Despite the price of bitcoin falling to almost $15,000, its lowest level since 2020, the bitcoin market has seen a gradual recovery, with bitcoin recently reaching $50,000 for the first time in more than two years, although still below its maximum of $69,000 in November 2021.