According to Reuters, the famous billionaire Peter Thiel-backed company Founders Fund invested $200 million in Bitcoin and Ethereum.
The news stated that the company invested equally $100 million each in BTC and ETH.
Reuters, basing its news on sources familiar with the matter, stated that Founders Fund started buying BTC last summer when the price of Bitcoin was trading below $ 30,000.
Accordingly, the company is claimed to have gradually purchased BTC and ETH from summer to early autumn.
Additionally, while it was stated that this was not the company’s first investment in Bitcoin, it was stated that the company started purchasing BTC as early as 2014.
Founders Fund, one of the important institutional investors, earned $1.8 billion with its smart moves. Because the fund chose to liquidate its assets before the cryptocurrency collapse in 2022 and made a profit of approximately $1.8 billion as a result of the sale.
While Reuters was unable to learn the average price of Founders Fund’s Bitcoin and Ethereum purchases, a spokesperson for Founders Fund declined to comment.
San Francisco-based venture capital firm Founders Fund manages more than $12 billion in total assets.
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!