News

Billionaire Investor Allocates $200Million to Bitcoin and Ethereum Amid Price Pump

Dhirendra Chandra Das

Key Insights:

  • Peter Thiel's Founders Fund bought $200 million in Bitcoin and Ethereum.
  • Fund has AUM worth $12 billion.
  • Has lead several successful companies in multiple roles like SpaceX, OpenAI, Airbnb, etc.
  • Reason for investment seems future prospects of Bitcoin (mass adoption) and Ethereum (The Surge).

Legendary entrepreneur Peter Thiel who was behind top successful companies like PayPal, SpaceX and Meta was found to have invested $200 million in Bitcoin and Ethereum via his $12 billion worth investing arm called the Founders Fund.

The news was reported by Reuters and provides affirmation to a rumor that several big tech founders, billionaires and entrepreneurs are already investing heavily in crypto assets.

What Reuters Found?

Reuters found that Peter Thiel's Founders Fund invested in Bitcoin when it was near $30,000. The fund started buying before the bull run started around June 2023. The report also claimed that $100 million was invested into Bitcoin and Ethereum each.

Though there is no data on the average buying price, it is expected that the buying might have been taken place in multiple tranches.

Peter Thiel hails from the rank of traditional investors who used to be skeptic around crypto. However with regulations stepping in and the approval of Bitcoin ETFs, more traditional investors and investment funds are expected increase their exposure to crypto assets.

Who is Peter Thiel and Why Should You Care?

Peter Thiel, Source Wikipedia

Peter Thiel is the legendary billionaire and entrepreneur who has successfully backed, guided and lead multiple successful companies like PayPal (as CEO), Meta (investor) and SpaceX (early investor).

He is also known to be a successful business coach and has authored a book named Zero to One, a well established guide on startups.

Peter Thiel is also a successful investor and this is what we are concerned with. His fund named Founders Fund manages net assets worth $12 billion. This fund has created and backed some of the most successful tech companies. Some of which are:

  • Stripe
  • SpaceX
  • Facebook
  • DeepMind
  • OpenAI
  • The Boring Company
  • Figma
  • Spotify
  • Affirm
  • Neuralink

Other Popular Billionaires and Entrepreneurs in Crypto

Top entrepreneurs and billionaires those who are already neck-deep into crypto are:

  • Michael Saylor, founder of MicroStrategy which owns around 190k Bitcoins
  • Elon Musk whose company Tesla owns around $387 million worth of Bitcoins.
  • Cathie Wood, CEO of ArkInvest
  • Tim Draper, early investor in Twitter, Hotmail and Tesla.
  • Brian Armstrong: co-founder of Coinbase.

Why are They Buying Now?

Both Bitcoin and Ethereum appear to have a clear golden future at least in the next 4-5 years. Bitcoin is expected to achieve broad adoption with ETFs while Ethereum is on the road to digitize everything from Assets, Bonds, ETFs, to almost every other financial asset.

With regulatory approval of ETFs, both the cryptocurrencies are expected to witness record adoption.

Should You Do The Same?

We have time and again reiterated our position that the current time is the best to get you hands on top cryptos like Bitcoin and Ethereum. Both cryptos have a lot of good things going for them.

Regulatory Clarity

Bitcoin, Ethereum and XRP are the only three cryptocurrencies which have regulatory clarity. It was classified by law that they were not securities. Bitcoin has already an ETF in multiple countries whereas Ethereum ETFs have started trading in the Europe.

Bitcoin Halving

Past data clearly indicates that investing in Bitcoin before its halving has always been profitable. The next halving is scheduled around April 18, 2024.

Ethereum's Surge

Ethereum's has started the implementation of its Dencun Upgrade which aims to integrate rollups like feature on its blockchain called the "Blobs". These blobs will reduce the dependency of Ethereum on other Layer-2 chains which will ultimately reduce gas fees in the blockchain.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information, but it will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.