Peter Thiel's Founders Fund holding millions of dollars in Bitcoin

St. Peter the Apostl Thiel's Founders Investment company holding millions of dollars in Bitcoin

According to the Palisade Street Journal, i of Facebook's earliest backers has been buying millions of dollars worth of Bitcoin. Peter Thiel is peerless of the co-founders of PayPal and was an young bird investor in the social mesh Facebook before it became the globose giant it is today.

The Wall in Street Daybook reports that Saint Peter the Apostle Thiel's investment vehicle, Founders Fund, purchased somewhere in the region of $15 to $20 million of Bitcoin. The venture capital firm told its investors that Bitcoin's remarkable 2017 carrying out, which saw record surges in value, had made Founders Fund holdings in the cryptocurrency now worth hundreds of millions.

The WSJ report coincided with the price of Bitcoin rising by 13.5 percent to just over the $15,000 per whole mark, with the trading of Bitcoin futures on the CBOE temporarily halted.

Volatile Final stage To 2017

Although Bitcoin had a shaky closing to 2017, losing half its note value in the space of a month, the overall gains have been spectacular. The guiding cryptocurrency increased in value by 1,375 percent, rocketing from a value of $1000 in Jan 2017 to $14,292 on the year's ultimate day of trading, Friday 29th December.

When speaking at an event in October of last year, Thiel had warned that some were "underestimating" the strength and importance of Bitcoin, and joined others in comparing the cryptocurrency to gold. He foreseen that if Bitcoin did "end dormie being the cyber-like of gold" it would rich person a &dy deal of potential growth still to get along, with its value continued to multiply for several eld.

Bitcoin Live Chart

Founders Fund was also reported aside the Journal to have warned investors that historically high valuations of private technical school companies had made investing in them as risky and &gerous A ever.

Another hazard laissez-faire WHO has stake and won big along Bitcoin is Tim Draper, who bought up approximately 30,000 bitcoins at a 2014 U.S. Marshals Service auction, and unchangeable to in December that helium was still holding all of those coins. According to information compiled away analytics company PitchBook Data, during 2017 stake capital investors ploughed over $1 billion into backing cryptocurrency startups.

January 11, 2018 by DayTrading.com