Peter Thiel Made $200M Investment in BTC, ETH Before Bull Run: Reuters

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 Indicies 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.

What do you think?

Written by Moneyofficeteam

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