Thiel's Founders Fund Revives Crypto Spirit with $200 Million Investment
Feb 13, 2024
Billionaire Peter Thiel's Founders Fund has reportedly reentered the cryptocurrency market with a $200 million investment in bitcoin and ether, signaling a resurgence of interest from Silicon Valley in digital assets. The investment, made from late summer to early fall last year, highlights a renewed confidence among institutional investors in tokens following the market crash of 2022. Founders Fund, known for its early investments in companies like SpaceX and Meta, has a history of involvement in crypto, having initially bought bitcoin in 2014 before liquidating it prior to the 2022 crash, generating significant returns. Led by Thiel, a vocal supporter of bitcoin, the firm's recent move underscores its alignment with his libertarian views and belief in the potential of blockchain technology.
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