The venture company Founders Fund, founded by Peter Thiel, which invested about $10-15 million in bitcoin in mid-2017, now has hundreds of millions of dollars in cryptocurrency assets. The reason for this was the sharp increase in the price of cryptocurrency at the end of last year. It is not yet known whether he sold part of his assets. Wall Street Journal journalist Rob Copeland wrote about this.
Billionaire Peter Thiel, co-founder of PayPal, is one of the most successful investors in Silicon Valley. Peter Thiel also worked as a political strategist on President Trump's campaign team. He is one of the early investors in such successful projects as Facebook, SpaceX and Lyft. He has also invested significant amounts in cryptocurrency hedge funds Metastable Capital and Polychain Capital, which are studying blockchain technology and developing new applications based on it. If he could wait years for profit from his first investment, then investing in cryptocurrency will quite possibly bring him profit much faster.
In October, he gave an interview in Saudi Arabia, in which he called cryptocurrencies “charismatic.” “Even though I am skeptical of most cryptocurrencies, I believe that many people underestimate bitcoin, not least because it is a form of storage of funds. In addition, bitcoin has the potential to be the cyber equivalent of gold,” the billionaire said.
Bitcoin became the hottest topic on Wall Street last year. A currency that is essentially digital and independent of banks and governments, which began selling at $100 per coin and soared to $20,000 in a short period of time, has received a ton of investment from individuals but relatively little from large corporations. At this point, Bitcoin is experiencing a slight decline. This has spooked some investors. Recently, billionaire and member of several supervisory boards Mike Novogratz announced that he was postponing the launch of a new cryptocurrency hedge fund for an unknown period because he “does not like the current market conditions.”
According to https://www.wsj.com
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