Celebrity investor Peter Thiel's fund buys Bitcoin, Ethereum – Reuters

Reinvest in virtual currency

Founders Fund, an American venture capital firm co-founded by famous investor Peter Thiel, has reportedly invested in crypto assets (virtual currencies) Bitcoin (BTC) and Ethereum (ETH) in 2023. Reuters reported on the 12th, citing multiple sources.

The investment period was from summer to fall last year, and he invested half of his $200 million (approximately 30 billion yen) in both stocks. The company's latest investment was first revealed by a Reuters report.

According to sources, he started buying Bitcoin when the price was below $30,000 (approximately 4.5 million yen at current exchange rates) and continued to buy two stocks, Ethereum and Ethereum, for several months. Reuters explained that the average acquisition price has not been disclosed.

connection: Bitcoin rises above $50,000, bullish trend becomes clearer

Founders Fund first invested in Bitcoin in early 2014. In January of last year, it was revealed that after about eight years, the majority of the cryptocurrencies in its portfolio would be sold by the end of March 2022, making a profit of about 230 billion yen at the time of reporting. Since the Terra turmoil started in May 2022, it means that the stock was sold out before the virtual currency winter started.

connection: Famous American entrepreneur's fund made approximately 230 billion yen in profits from selling virtual currency, held for 8 years

This Reuters report reveals that Founders Fund is once again showing interest in cryptocurrencies. It is reported that two-thirds of the funds invested since 2014 were allocated to Bitcoin.

connection: “Ethereum expected to outperform Bitcoin's growth rate” JP Morgan's 24-year forecast

What is Founders Fund?

Thiel is a well-known billionaire investor who has long expressed a positive view of cryptocurrencies. He is currently a partner at Founders Fund.

According to reports from Reuters and other sources, Founders Fund's assets under management exceed $12 billion (approximately 1.8 trillion yen). Its portfolio includes companies such as SpaceX, Facebook, and OpenAI.

In addition to purchasing virtual currencies directly, the company has also invested in virtual currency and blockchain-related companies. For example, in September 2023, together with dao5, it led the fundraising for the L2 network “Layer N” built on Ethereum.

connection: “Layer N” testnet achieves up to 120,000 high-speed transactions per second