Peter Thiel, known as the godfather of Silicon Valley venture capital, has been revealed to have entered the Bitcoin and Ethereum markets at their lows last year, reaping substantial returns as Bitcoin surpasses the $50,000 mark.
Summary:
Peter Thiel, the founder of Neuralink under Elon Musk’s leadership, has invested $43 million in the “brain-machine interface” venture.
Background:
Insider reveals that Peter Thiel, the godfather of Silicon Valley venture capital, is an FBI informant! He has obtained substantial profits from the US government.
Do you know who Peter Thiel is? He is the investment king of Silicon Valley, with a keen eye for co-founding PayPal with Musk and others, and making the first peripheral investment in Facebook. He also founded the Thiel Fellowship, which Vitalik Buterin has received. Most importantly, he is a cryptocurrency investment guru himself!
His venture capital firm Founders Fund has made significant purchases of Bitcoin and Ethereum. According to Reuters, sources revealed that Founders Fund, founded by Peter Thiel, invested $200 million to purchase cryptocurrencies last summer and early autumn, with half in Bitcoin and the other half in Ethereum, catching up with the booming cryptocurrency market since the end of last year.
Rough calculations suggest that Founders Fund’s entry prices may have been around $26,000 for Bitcoin and $1,800 for Ethereum, resulting in a profit of approximately $140 million at today’s market prices.
Sources explained that Founders Fund began acquiring Bitcoin when its price was below $30,000 and continued to purchase more Bitcoin over several months. This event indicates that Founders Fund has reignited its interest in the cryptocurrency market. Previously, Founders Fund was one of the earliest cryptocurrency investment institutions, actively purchasing stablecoins in 2014 and selling them all before the collapse of FTX in 2022, earning profits of approximately $1.8 billion.
Founders Fund currently manages assets exceeding $12 billion and is well-known as an early investor and major shareholder in renowned companies such as SpaceX and Meta.
Further reading:
Peter Thiel: Warren Buffett is the “number one enemy” hindering the development of cryptocurrencies.
Thiel’s involvement in cryptocurrencies and AI.
As a serial entrepreneur, Peter Thiel also owns the well-known data company Palantir, which primarily provides data analysis services to government agencies, military, and business activities. Due to the significant increase in demand for AI last year, Palantir achieved profitability for the entire fiscal year 2023. Its stock price has skyrocketed from a low of $7.19 in the past year to around $25.5, achieving over a three-fold increase.
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Palantir’s stock price changes in the past year | Source: Google Stocks
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