- Peter Thiel’s Founders Fund invested $100 million in bitcoin and $100 million in ether in 2023, buying at discounted prices below $30,000 per bitcoin.
- Thiel has a long history of supporting crypto, wishing he had invested more in bitcoin back in 2021 and backing major crypto startups.
- With Founders Fund’s latest $200 million investment in bitcoin and ether, Thiel continues to bet big on cryptocurrencies representing the future of finance.
Peter Thiel has long been a visionary investor, backing companies like SpaceX and Meta in their early days. Now, his venture capital firm Founders Fund is placing a major bet on the future of cryptocurrencies.
Founders Fund Invests $200 Million in Bitcoin and Ether
According to a recent Reuters report, Founders Fund invested $100 million each in bitcoin and ether from late summer to early fall 2023. At the time, bitcoin’s price was below $30,000, indicating the firm likely acquired the assets at a discount compared to the current market price.
This $200 million crypto allocation represents the latest chapter for Founders Fund’s long and profitable history with digital assets. The firm began acquiring bitcoin back in 2014 and reportedly generated $1.8 billion in proceeds after selling down its position prior to the 2022 bear market.
Thiel’s History as a Crypto Advocate
The crypto purchases track with Peter Thiel’s well-known enthusiasm for bitcoin. During the 2021 bull market, Thiel remarked that he wished he had invested more in bitcoin earlier, underscoring his faith in the asset class.
Outside of Founders Fund, Thiel has backed prominent crypto startups including Layer1, Ondo Finance, Block and Green. He has also recruited executives like Balaji Srinivasan to help scout crypto investments.
With this latest allocation to bitcoin and ether, Thiel is once again proving himself ahead of the curve by investing in what he believes represents the future of finance. Given Founders Fund’s successful track record, the firm’s megabillion dollar bet on crypto could foreshadow where the market heads next.