Reuters: Peter Thiel’s fund invests $200 million in BTC and ETH ahead of the rally

The investment was split equally between the two digital assets

13.02.2024 - 09:01

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What’s new? PayPal payment system co-founder Peter Thiel’s venture capital fund, Founders Fund, has invested $200 million in bitcoin and Ethereum, Reuters reports, citing its own sources. The investment was split equally between the two digital assets and was made between late summer and early fall 2023.

Material by Reuters

What else is known? Founders Fund started buying bitcoin when the asset’s value was below $30 000 and increased the amount of BTC and ETH in the following months. As of February 13, bitcoin is trading at $49 990 on Binance, having added 3,67% in a day and 16,7% in a week (data from the CoinGecko aggregator). Ethereum’s exchange rate is at $2449, with daily and weekly gains of 2,28% and 14% respectively.

Founders Fund investments. The fund invested between $15 million and $20 million in bitcoin during the 2017-2018 bull market. And before the start of the crypto winter in March 2022, Founders Fund sold most of its crypto assets for $1,8 billion.

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MicroStrategy and stablecoin issuer Tether increased their investments in BTC by $1,25 billion and $380 million in Q4 2023, respectively. As of February 5, MicroStrategy held 190 000 coins with an average purchase price of $31 224 for a total value of $5,93 billion. Tether added 88888 BTC at the end of the reporting period and now has 66 465 coins in its account.

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