Peter Thiel, known as the godfather of Silicon Valley venture capital, has been revealed to have bought Bitcoin and Ethereum at the low point last year, reaping huge profits as Bitcoin reaches the $50,000 milestone.
Summary:
Peter Thiel, the founder of Neuralink under Elon Musk, has led a $43 million investment in Silicon Valley venture capitalist Peter Thiel’s Neuralink “brain-machine interface.”
Background:
Insider leaks: Silicon Valley venture capitalist Peter Thiel is an FBI informant! Profiting from the US government.
Do you know who Peter Thiel is? He is a Silicon Valley investment tycoon who co-founded PayPal with Musk and others, had the foresight to be the first outside investor in Facebook, and established the Thiel Fellowship, which even Vitalik Buterin has received. Most importantly, he is a cryptocurrency investment guru himself!
His venture capital company, Founders Fund, has heavily invested in Bitcoin and Ethereum.
According to the latest news from Reuters, insiders revealed that Founders Fund, founded by Peter Thiel, invested $200 million to buy cryptocurrencies last summer and early autumn, with half in Bitcoin and the other half in Ethereum, catching up with the surging crypto market since the end of last year.
If roughly calculated, Founders Fund’s entry price may have been around $26,000 for Bitcoin and $1,800 for Ethereum, which would have resulted in a profit of about $140 million at today’s market prices.
Insiders explained that Founders Fund started buying Bitcoin when its price was below $30,000 and continued to purchase more Bitcoin in the following months. This indicates that Founders Fund has rekindled its interest in the crypto market. Previously, Founders Fund was one of the earliest cryptocurrency investment institutions, actively buying stablecoins in 2014 and selling them all for a profit of about $1.8 billion before the collapse of FTX in 2022.
Founders Fund currently manages assets exceeding $12 billion and is well-known as an early investor and major shareholder of well-known companies such as SpaceX and Meta.
Further reading:
Peter Thiel: Warren Buffett is the “number one enemy” hindering the development of cryptocurrencies.
Thiel’s involvement in cryptocurrencies and AI
As a serial entrepreneur, Peter Thiel also owns the well-known data company Palantir, which mainly provides data analysis services to government agencies, military, and commercial activities. Last year, the demand for AI greatly boosted its revenue, achieving profitability for the full fiscal year 2023. The stock price has risen from its lowest point of $7.19 in the past year to about $25.5, achieving more than a three-fold increase.
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Palantir stock price changes in the past year | Source: Google Stocks
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