The fund of billionaire investor Peter Thiel, co-founder of PayPal, made a profit of $ 1.8 billion by selling all the Bitcoin (BTC) positions that he held for 8 years before the crash last year.
Peter Thiel’s fund, according to a report by the Financial Times (FT) Bitcoins he has been holding for 8 years Before the big decline in 2022, approximately 45 thousand dollarssold from Fund, Bitcoins March per month to sell started and April By the end of the month, Bitcoin assets most of them were sold. Thiel’s fund totals from these sales. $1.8 billion net profit achieved.
Former President of the USA Donald TrumpThiel, who is also a close supporter of Bitcoin, is one of the first mainstream investors to buy large amounts of Bitcoin. Thiel’s fund made its first investment in Bitcoin in early 2014. At the time he started buying BTC, the price 300-400 dollars was in range.
Then, in the ongoing process, the fund gradually increased its Bitcoin purchases. People who have detailed information about the fund can give an approximate value of the total investment. two-thirds to buy Bitcoin stated to be used.
Was he hypocritical?
Thiel’s Bitcoin fund had started selling BTC, but at that time, Thiel said both in his press releases and in April, which he joined. Bitcoin Conference 2022He did not give any details about the sale. On the contrary, “I trust the future of Bitcoin, the price could go up 100 times from here” and “we have come to the end of the fiat currency regimeThiel, who made statements such as ”, said that the job was actually at that time. held for 8 years had already started selling all Bitcoin positions.