Peter Thiel’s Founders Fund is Holding Millions of Dollars in Bitcoin

Nishanth Shetty

Nishanth Shetty

January 3, 2018 8:03 am

Peter Thiel’s Founders Fund is Holding Millions of Dollars in Bitcoin | Coindelite News
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Bitcoin News

We have heard of so many big investor’s a.k.a Bitcoiners before, but now, there is one more name to be listed in the greatest Bitcoiner’s lists, which notes Peter Thiel‘s name ( an American entrepreneur, venture capitalist, philanthropist, political activist, and author.) Peter Thiel and his venture capital firm, Founders Fund, are now one of the big Bitcoiners now. The Wall Street Journal report on Tuesday quoted that, The PayPal co-founder and other Founders Fund partners purchased $15 million to $20 million worth of the bitcoin which is now worth hundreds of millions of dollars. The report did not exactly mention when Thiel or his VC firm first purchased Bitcoin, whose value has grown from record highs to dramatic declines in recent months. The volatility has scared some economists, who all worry about the bubble.

The report described:

“Thiel and the Founders Fund, Anyhow, don’t arrive to share those interests and are instead pitching Bitcoin to their investors as “a high-risk, high-reward wager similar to its other venture bets.”

Coindelite’s Price Chart shows that the Shares of Bitcoin grew up to 13% on Tuesday from $13,412 to $15,216.

In October, Thiel told that people are “underestimating” Bitcoin and he compared the cryptocurrency to gold in an interview in Saudi Arabia.

Thiel said:

“If bitcoin ends up being the cyber equivalent of gold it has a great potential left,” and regarding other cryptocurrencies, he described,” I was skeptical of most of them.”

Peter didn’t comment on other cryptocurrencies such as Ripple, Ethereum, Litecoin.

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