Thiel Invested $200 Million In Crypto Before Bull Run

Founders Fund, the venture capital firm founded by billionaire Peter Thiel, is once again investing in Bitcoin and Ether, sources said, signaling Silicon Valley's renewed interest in cryptocurrency markets, Anna Tong and Krystal Hu reported for Reuters.

The significant investment marks a comeback for crypto markets. I Photo: Gage Skidmore Flickr

From late summer to early fall last year, the fund invested $200 million to acquire crypto tokens, with half in Bitcoin and the other half in Ether, according to two sources with direct knowledge of the matter.

This previously unreported move by the prominent Silicon Valley venture capital firm underscores some institutional investors' return to token investments, a strategy that was once the hottest investment trend before the crypto market crashed in 2022.

The significant investment marks a comeback for crypto markets, which suffered in 2022 after the collapse of crypto exchange FTX and other major players, resulting in crushed prices, tarnished industry reputation, and a regulatory crackdown.

In 2022, the price of Bitcoin crashed to nearly $15,000, its lowest level since 2020. While Bitcoin and Ether prices have gradually climbed over the past year, Bitcoin hit $50,000 for the first time in more than two years this week, still below its peak of $69,000 in November 2021.

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