Peter Thiel’s Founders Fund Invests $200 Million in Bitcoin and Ether
Peter Thiel’s VC Firm Makes Major Investment in Cryptocurrency
Peter Thiel’s Founders Fund recently made a significant investment in the cryptocurrency market, injecting $200 million in bitcoin and ether before the start of the ongoing bull run. This move highlights a renewed interest from institutional investors in the sector.
Resurgence of Interest in Cryptocurrency from Silicon Valley
Amidst a resurgence of interest in the cryptocurrency sector from Silicon Valley, the venture capital firm reportedly allocated $200 million towards purchasing bitcoin and ether in the period from late summer to early autumn of 2023. This demonstrates a growing confidence in the potential of digital assets.
Equal Allocation Between Bitcoin and Ether
The investment was equally divided between the top two cryptocurrencies by market cap, indicating a balanced approach to capitalizing on the potential growth of both assets.
Challenges Faced by the Cryptocurrency Market in 2022
The move comes at a time when the cryptocurrency market faced challenges in 2022, including the downfall of major entities like the crypto exchange FTX, leading to decreased valuations, damage to the sector’s reputation, and increased regulatory scrutiny. The recent investment signals a positive shift in sentiment towards the market.
Strategic Purchases of Bitcoin and Ether
Founders Fund began purchasing BTC when its price was under $30,000 and continued to buy both bitcoin and ether over the following months, indicating a strategic approach to capitalizing on market opportunities.
Unspecified Average Purchase Price
The average purchase price of these cryptocurrencies could not be determined, adding an element of mystery to the investment strategy. This lack of specific details adds to the intrigue surrounding the investment.
