Peter Thiel’s Bitcoin and Ether Investments Soared to $200M Last Year
Entrepreneur Peter Thiel’s Bold Investment Move
Peter Thiel, the co-founder of PayPal and an early Facebook investor, made a significant investment in the cryptocurrency market last year. Thiel’s investment firm, Founders Fund, bought between $15 million to $20 million worth of Bitcoin in January 2021. This was the first time Thiel’s firm had made a significant investment in the cryptocurrency market.
Thiel’s Growing Interest in Cryptocurrency
Thiel’s interest in cryptocurrency continued to grow throughout the year. In the second half of 2021, Founders Fund purchased as much as $100 million worth of Bitcoin. Additionally, the firm also bought millions of dollars worth of Ethereum, the second-largest cryptocurrency by market capitalization.
Impact of Thiel’s Investments
Thiel’s substantial investments in Bitcoin and Ethereum reflect a growing trend of institutional investors entering the cryptocurrency market. This move by a prominent figure like Thiel signals a growing acceptance and interest in digital assets among traditional investors.
Bitcoin and Ether’s Performance
Thiel’s investments in Bitcoin and Ethereum have proven to be profitable, as both cryptocurrencies surged in value throughout 2021. Bitcoin reached an all-time high of nearly $69,000 in November 2021, while Ethereum also saw significant gains, reaching an all-time high of over $4,800 in the same month.
Future Outlook
Thiel’s substantial investments in Bitcoin and Ethereum last year highlight the increasing mainstream adoption of cryptocurrencies. As more institutional investors like Thiel’s Founders Fund continue to enter the market, it is likely that cryptocurrencies will become an integral part of diversified investment portfolios in the future.
