Billionaire Peter Thiel made a $200 million investment last year. And by choosing Bitcoin and Ethereum, he made a real winning bet.
The year 2023 has been exceptional for Bitcoin. After the successive collapses suffered during the previous year, notably due to Luna and the end of FTX, cryptocurrencies rebounded strongly. And many of them have sensed a good deal, including billionaire and tech guru Peter Thiel. As Bitcoin began its comeback, he actually invested a large sum, which currently ensures him a more than comfortable profit!
$200 million in bitcoin and ethereum
Peter Thiel has further increased his fortune! According to information obtained by Reutersthe American-New Zealand billionaire invested in cryptocurrencies between the end of summer and the beginning of fall 2023.
In total, an envelope of 200 million euros was invested in the field, half in Bitcoin, the other in Ethereum. At the time, Bitcoin was trading at around $30,000 (compared to more than $51,000 today), while Ethereum was around $1,600 (compared to around $2,700 at this time).
Peter Thiel, a bitcoin fan
The two sources of Reuters were unable to transmit the exact profit made by Founders Fund, Peter Thiel’s investment company that he used for these cryptocurrency purchases.
Note that Peter Thiel is an early fan of Bitcoin, in which he invested since 2014, before withdrawing in 2022 before the market collapse. He was then able to post a large profit, estimated at $1.8 billion.
Beyond this speculative success, the man who was once associated with PayPal with Elon Musk also appreciates the very nature of Bitcoin. Libertarian, Peter Thiel believes that it is an extremely interesting instrument to counter the effects of the monetary policies of central banks. Like others, he also sees this cryptocurrency as a store of value similar to gold. Win win?
Source : Reuters
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