Peter Thiel's Founders Fund holding millions of dollars in Bitcoin - poolesquithrilve
Peter Thiel's Founders Fund holding millions of dollars in Bitcoin
According to the The Street Journal, one of Facebook's early backers has been buying millions of dollars valuable of Bitcoin. Peter Thiel is one of the co-founders of PayPal and was an aboriginal bird investor in the social network Facebook before it became the global giant IT is today.
The Wall Street Journal reports that Peter Thiel's investment funds fomite, 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 performance, which byword record surges in value, had successful Founders Fund holdings in the cryptocurrency now worth hundreds of millions.
The WSJ report coincided with the price of Bitcoin rising aside 13.5 per centum to just over the $15,000 per unit mark, with the trading of Bitcoin futures along the CBOE temporarily halted.
Explosive End To 2017
Although Bitcoin had a rickety end to 2017, losing half its esteem in the space of a calendar month, the overall gains have been dramatic. The starring cryptocurrency increased in value by 1,375 percent, rocketing from a value of $1000 in January 2017 to $14,292 on the year's final daylight of trading, Friday 29th December.
When speaking at an consequence in Oct of last class, Thiel had warned that some were "underestimating" the military posture and importance of Bitcoin, and married others in comparing the cryptocurrency to gold. He predicted that if Bitcoin did "land up beingness the cyber-equivalent of gold" it would have a good deal of potency growth calm to come, with its value continuing to multiply for individual years.
Bitcoin Live Chart
Founders Fund was also reported by the Journal to have warned investors that historically high valuations of private tech companies had successful investing in them as bad and dangerous as ever.
Another venture capitalist who has bet and won big along Bitcoin is Tim Draper, World Health Organization bought up approximately 30,000 bitcoins at a 2014 U.S. Marshals Service auction, and confirmed to in December that atomic number 2 was still holding totally of those coins. Accordant to info compiled by analytics troupe PitchBook Information, during 2017 risk capital investors tilled over $1 billion into backing cryptocurrency startups.
by DayTrading.com
Securities
This article mentions the following securities.
- Bitcoin
Source: https://www.daytrading.com/peter-thiels-founders-fund-holding-millions-of-dollars-in-bitcoin
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