Peter Thiel's Investment Fund Holds Hundreds of Millions in Bitcoin
- The investment fund gambled on Bitcoin, and it seems to have paid off.
The Wall Street Journal reported yesterday that hundreds of millions of dollars worth of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term are held by the Founders Fund, a major American venture capital firm.
Discover credible partners and premium clients at China’s leading finance event!
Founders Fund was set up by Peter Thiel in 2005. Thiel is a German-born, American entrepreneur best known for co-founding PayPal and then selling it to eBay for 1.5 billion USD. He has a personal net worth of approximately 2.6 billion USD, and holds leading roles at several major companies, including a spot on the board of Facebook.
He established the fund with the aim of investing in firms that develop new technology. Companies that have received investment money include LinkedIn, Airbnb, and Facebook. Overall, Founders Fund owns parts of more than 100 companies, and has assets under management of more than 3 billion USD.
Apparently, the fund bought Bitcoin worth 15-20 million USD a few years ago, and the wager has paid off handsomely as Bitcoin has skyrocketed in value.
According to the Wall Street Journal, Thiel spoke on the subject of cryptocurrency at an investment conference in Saudi Arabia in October. Mr. Thiel described Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term as “charismatic”.
“While I’m skeptical of most of them, I do think people are a little bit underestimating bitcoin, specifically, because it is like a reserve form of money,” he said.
The article notes that by buying Bitcoin directly, as opposed to buying a share of a company that deals in Bitcoin, the Founders Fund has deviated from its usual modus operandi.
The news of the holdings had not been reported previously, and Coinmarketcap shows that a drastic jump in Bitcoin price took place around the time of the article's release.
At the moment, a single bitcoin is worth 15,400 USD. As Thiel said: “If bitcoin ends up being the cyber equivalent of gold, it has great potential.”
The Wall Street Journal reported yesterday that hundreds of millions of dollars worth of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term are held by the Founders Fund, a major American venture capital firm.
Discover credible partners and premium clients at China’s leading finance event!
Founders Fund was set up by Peter Thiel in 2005. Thiel is a German-born, American entrepreneur best known for co-founding PayPal and then selling it to eBay for 1.5 billion USD. He has a personal net worth of approximately 2.6 billion USD, and holds leading roles at several major companies, including a spot on the board of Facebook.
He established the fund with the aim of investing in firms that develop new technology. Companies that have received investment money include LinkedIn, Airbnb, and Facebook. Overall, Founders Fund owns parts of more than 100 companies, and has assets under management of more than 3 billion USD.
Apparently, the fund bought Bitcoin worth 15-20 million USD a few years ago, and the wager has paid off handsomely as Bitcoin has skyrocketed in value.
According to the Wall Street Journal, Thiel spoke on the subject of cryptocurrency at an investment conference in Saudi Arabia in October. Mr. Thiel described Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term as “charismatic”.
“While I’m skeptical of most of them, I do think people are a little bit underestimating bitcoin, specifically, because it is like a reserve form of money,” he said.
The article notes that by buying Bitcoin directly, as opposed to buying a share of a company that deals in Bitcoin, the Founders Fund has deviated from its usual modus operandi.
The news of the holdings had not been reported previously, and Coinmarketcap shows that a drastic jump in Bitcoin price took place around the time of the article's release.
At the moment, a single bitcoin is worth 15,400 USD. As Thiel said: “If bitcoin ends up being the cyber equivalent of gold, it has great potential.”