Peter Thiel Invests Again in Bitcoin and Ethereum
Peter Thiel, a well-known billionaire and co-founder of Founders Fund, has a history of investing in cryptocurrencies. In 2014, his company invested in Bitcoin, and in March 2022, they sold a significant portion of their coins, netting Thiel’s venture capital fund approximately $1.8 billion.
In the second half of last year, Founders Fund invested in Bitcoin again, investing $100 million in the cryptocurrency before spot ETFs for Bitcoin were approved in the US. Additionally, the fund invested $100 million in Ethereum at the same time.
Peter Thiel Not Very Bullish on Bitcoin
Despite his recent investments, Thiel is no longer as optimistic about the price of Bitcoin as he once was. In a recent interview with fund manager Anthony Scaramucci on CNBC, Thiel stated that he no longer believes Bitcoin will rise as dramatically as it did in the past. He still owns an unknown number of Bitcoins, but his theory is that the price will no longer increase as rapidly as it has in the past.
Thiel’s comments are not entirely illogical, as many analysts have predicted that the current bull market may not be as explosive as previous ones. Price targets of $100,000 to $200,000 are still being mentioned, but measured from the bottom at the beginning of last year, the current increase of approximately 1,200% is smaller than the previous bull market, which saw a nearly 1,700% increase.
