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
3176 Total Views

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.

No Comments
Reason for Hike in XRP Value Explained!!!

XRP prices seem to have Spiked Lately Ripple is generating notable gains as the huge cryptocurrency market pushed higher. According to Coindelite, the XRP token attained a value of $0.8768. Coindelite figures show that Ripple rose by 20% over the last 24 hours and has climbed to its highest since …

Amazon Web Series is Making the use of Hyperledger and Ethereum easy

Amazon Web Series to Start a New service for Hyperledger and Ethereum easy Amazon Web Services has recently announced the service it is going to launch out-of-the-box a blockchain service for Ethereum and Hyperledger Fabric protocols. AWS chief evangelist Jeff Barr wrote in a blog post: “Recently available templates allow …

Australia to Mine Bitcoins by reopening Coal Power Plant

Contract with Crypto Mining firm Signed by Australia to reopen Coal Power Plant A contract has been signed with the IOT Group, a cryptocurrency mining firm by Australia’s Hunter energy to reopen a coal power plant in the Hunter Valley Region of Australia. Although new and advancing technologies are largely …

NY Federal Reserve Chief Nominee says Cryptocurrencies can’t Replace Dollar

Digital Currencies cannot replace Paper Currency says NY Fed Chief Nominee CEO of Twitter Jack Dorsey predicted that Bitcoin would surpass all the world’s currencies in around ten years. But the man nominated to be the head of New York Federal Reserve differs. In a speech on Friday, the present …

Blue Check Mark on Twitter Doesn’t mean your Account is Safe

Bad Checks: Twitter’s Identity Crisis Costs Users More Than Bitcoin According to a Russian Writer, it’s one of crypto’s most generally embraced slogans, though one that’s becoming even more important on social media, where battling factions inclined on promoting the next big high-tech investment are presently turning the very symbols …

Bitdegree Offers Online Courses for Students with Crypto Incentives

Bitdegree a Cryptocurrency Startup Pays Students while Learning Bitdegree, a Lithuanian cryptocurrency startup wants to change the face of online education using their online platform and cryptocurrency. What is BitDegree? BitDegree an online platform with its own cryptocurrency. The firm was founded in 2017. BitDegree plans to change how education …

Press Release