In a prescient move capitalizing on the cryptocurrency market’s potential, Peter Thiel’s Founders Fund secured a substantial $200 million investment in bitcoin and ether. This strategic positioning was orchestrated before the digital currencies experienced a significant price surge, sources informed Reuters.

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• Founders Fund, led by Peter Thiel, strategically invested $200 million in bitcoin and ether before the substantial market upturn.
• The firm’s early cryptocurrency investments paid off, with a profitable exit netting $1.8 billion before the 2022 ‘crypto winter.’
• Peter Thiel’s bullish stance on Bitcoin, linking its ascent to a critique of central banks, is evident in Founders Fund’s early positioning and regret for not investing more heavily during the 2021 bull run.

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Founders Fund Harvests $1.8 Billion from Early Bitcoin and Ether Bets

The venture capital firm, recognized for its astute early-stage bets on companies poised to disrupt industries, evenly allocated its investment across the leading cryptocurrencies. In the ensuing 12 months, bitcoin’s value soared by an estimated 124%, while ether appreciated by 75%, according to CoinDesk Indices. This positive momentum propelled the broader CoinDesk 20 Index to an 86% gain in the same period.

Founders Fund initiated its bitcoin acquisitions at a point when the cryptocurrency was trading below $30,000, continuing to bolster its position in both bitcoin and ether as the market waxed, insiders disclosed. Renowned for his bullish stance on Bitcoin, Peter Thiel has linked the ascent of the digital currency to a critique of central banks and the fiat currency system. During the peak of the 2021 bull run, Thiel candidly remarked on his regret for not having invested more heavily, considering himself “underinvested” in the asset.

In a lucrative maneuver, the fund liquidated most of its cryptocurrency assets for a staggering $1.8 billion in March 2022, just ahead of the downturn in the crypto market, often referred to as the ‘crypto winter,’ the Financial Times reported in the preceding year. This instance was not Founders Fund’s inaugural venture into the realm of cryptocurrencies, having previously invested between $15 and $20 million during the bull market of 2017-2018.

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