Institutional investments in Bitcoin (BTC) and Ethereum (ETH) have been soaring over the past few months! A recent Reuters report suggests that Peter Thiel-backed Founders Fund invested a hefty $200 million in these two cryptocurrencies in late summer 2023. Also, the fund has reportedly split its $200 million investment into equal amounts in BTC and ETH.
Founders Fund Re-entry Into Bitcoin Market
As per sources familiar with the matter, the Founders Fund started acquiring Bitcoins last summer when it was trading under $30,000. However, this was not the first time that the fund was making a bet on the largest cryptocurrency.
Founders Fund, a notable institutional investor in the crypto space, embarked on an aggressive acquisition of Bitcoin as early as 2014. However, the firm opted to liquidate its holdings prior to the 2022 crypto market crash, resulting in approximately $1.8 billion in returns, reports Reuters.
This previously undisclosed action by the esteemed Silicon Valley venture
We współpracy z: https://coingape.com/peter-thiel-backed-founders-fund-invests-a-massive-200-million-in-bitcoin-and-ethereum/
