Founders Fund’s $200 Million Investment in Bitcoin and Ether Pays Off: Scores Big Before Crypto Winter
Crypto News – Sources have revealed that Peter Thiel‘s Founders Fund strategically divided a $200 million investment between two leading digital assets, Bitcoin and Ether, well ahead of the significant price surges, as reported by Reuters.
Over the past 12 months, data from CoinDesk Indices indicates a remarkable surge in value, with Bitcoin (BTC) soaring by nearly 124%, while Ether (ETH) experienced a substantial increase of 75%. Concurrently, the CoinDesk 20 Index (CD20) demonstrated an impressive rally of approximately 86% during the same period.
Founders Fund initiated its acquisitions of Bitcoin when the price was below $30,000, steadily accumulating more BTC and ETH in subsequent months, as disclosed by sources to Reuters.
Peter Thiel has been a vocal advocate for Bitcoin, attributing its meteoric rise to a fundamental critique of central banks and fiat currency. During the notable bull run of 2021, Thiel openly expressed his sentiment of being ‘underinvested’ in the world’s largest digital asset.
According to reports from the Financial Times, Founders Fund astutely divested most of its cryptocurrency holdings for a staggering $1.8 billion in March 2022, strategically exiting just before the onset of the crypto winter. This move echoes Founders Fund’s earlier foray into Bitcoin, with a prior investment ranging from $15 to $20 million during the bullish period of 2017-2018.
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