Bitcoin

Million

Giant

Optimism

<p>According to a Reuters <a href="https://www.reuters.com/technology/peter-thiels-founders-fund-made-200-million-crypto-investment-before-bull-run-2024-02-13/" target="_blank" rel="noopener nofollow">report</a>, Founders Fund, the venture capital (VC) firm founded by <a href="https://bitcoinist.com/peter-thiel-helps-big-investors-buy-bitcoin/" target="_blank" rel="noopener nofollow">billionaire Peter Thiel</a>, is once again betting big on the <a href="https://bitcoinist.com/bitcoin-accounts-53-latin-american-wallets-report/" target="_blank" rel="noopener nofollow">flagship cryptocurrency, Bitcoin</a>. The VC firm is reported to have made significant profits on their last Bitcoin investment and would be hoping that this next market cycle also brings immense rewards.&nbsp;</p> 
<h2 id="founders-fund-already-made-a-200-million-investment-in-bitcoin-and-ether">Founders Fund Already Made A $200 Million Investment In Bitcoin And Ether</h2> 
<p>From late summer to early fall last year, Peter Thiel’s Founders Fund reportedly invested $200 million in the two largest crypto tokens by market cap, <a href="https://www.newsbtc.com/news/ethereum/ethereum-crypto-analyst-1900/#:~:text=If%20that%20happens%2C%20Ethereum%20could,its%20current%20price%20of%20%241%2C600." target="_blank" rel="noopener ">Bitcoin and Ethereum.</a> If so, the VC firm is likely already sitting on unrealized profits, considering these two cryptocurrencies were trading lower during that period.&nbsp;</p> 
<p>Notably, the BTC price is known to have traded below $30,000 towards the end of summer last year and <a href="https://bitcoinist.com/bitcoin-price-30000-all-time-high/" target="_blank" rel="noopener nofollow">only rose above that level</a> sometime in October. Meanwhile, although the average prices of Founders Fund’s Bitcoin purchases could not be ascertained, BTC has been trading at <a href="https://bitcoinist.com/rewards-2021-bitcoin-bull-buyers-finally-break-even/" target="_blank" rel="noopener nofollow">its highest level since 2021.</a></p> 
<p>Interestingly, Founders Fund is said to have made about $1.8 billion in returns on their previous investment in Bitcoin. The Financial Times <a href="https://www.ft.com/content/0a1d5597-7145-4035-987b-ff033bba3d75" target="_blank" rel="noopener nofollow">reported</a> how the VC firm began investing in the crypto token as far back as 2014 and went to liquidate most of its BTC holdings in March 2022, just before the <a href="https://bitcoinist.com/crypto-exchange-kraken-cuts-off-1100-employees/" target="_blank" rel="noopener nofollow">crypto winter</a> started in full force.&nbsp;</p> 
<img loading="lazy" decoding="async" class="wp-image-574879 size-large" src="https://www.newsbtc.com/wp-content/uploads/2024/02/bitcoin-btc-btcusdt-1.png?w=860&amp;resize=860%2C410" alt="bitcoin btc btcusdt" width="860" height="410" srcset="https://www.newsbtc.com/wp-content/uploads/2024/02/bitcoin-btc-btcusdt-1.png?w=2372 2372w, https://www.newsbtc.com/wp-content/uploads/2024/02/bitcoin-btc-btcusdt-1.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/02/bitcoin-btc-btcusdt-1.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/02/bitcoin-btc-btcusdt-1.png?w=860&amp;resize=860%2C410 860w, https://www.newsbtc.com/wp-content/uploads/2024/02/bitcoin-btc-btcusdt-1.png?w=1536 1536w, https://www.newsbtc.com/wp-content/uploads/2024/02/bitcoin-btc-btcusdt-1.png?w=2048 2048w, https://www.newsbtc.com/wp-content/uploads/2024/02/bitcoin-btc-btcusdt-1.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/02/bitcoin-btc-btcusdt-1.png?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
<h2 id="peter-thiel-s-optimism-on-btc">Peter Thiel’s Optimism On BTC</h2> 
<p>Peter Thiel, the co-founder of PayPal and one of the earliest investors in Facebook, is known to be a long-time Bitcoin advocate. He <a href="https://bitcoinist.com/peter-thiel-long-bitcoin-neutral-everything-else/" target="_blank" rel="noopener nofollow">once explained</a> how the flagship crypto token could provide a safe haven for investors and described it as a “hedge” against the “world falling apart.” Thiel also belonged to the school that believed Bitcoin could eventually replace Gold.&nbsp;</p> 
<p>When Bitcoin hit its all-time high at the height of the 2021 bull run, Thiel <a href="https://www.newsbtc.com/news/bitcoin/peter-thiel-underinvested-in-bitcoin/" target="_blank" rel="noopener ">also admitted</a> that he was underinvested in the crypto token. He said he should have bought more BTC rather than hesitating because he thought “everybody already knew the secret.”</p> 
<p>The billionaire has also described himself at some point as a “pro-crypto, pro-Bitcoin maximalist.” His affinity for Bitcoin and cryptocurrencies generally also stems from his political philosophy of libertarianism, as he sees these virtual currencies as a “force for decentralization.”</p> 
<p>Cover image from Dall-E, chart from Tradingview</p>

By The Numbers: Bitcoin Received $200 Million Investment From This Financial Giant

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