Peter Thiel's fund paid Krypto worth $ 1 billion after he was held for 8 years: ft

Peter Thiel's fund paid Krypto worth $ 1 billion after he was held for 8 years: ft

Peter Thiel is a long-time Bitcoin supporter. But his fund, who closed almost all of his crypto positions, was not well received shortly before the market went downhill.

According to Fortune's latest report, Thiel's VC company-Founders Fund-paid all of his bets on cryptocurrencies and achieved a profit of $ 1.8 billion.

• The fund based in San Francisco bought Bitcoin over eight years ago when the flagship was traded below $ 1,000. In the following years it increased its stocks significantly.
• In his speech at the Bitcoin 2022 conference in Miami in April, Thiel continued to work for Bitcoin and demanded increased acceptance. He even continued to say: "We are at the end of the Fiat game regime", while he emphasized that Bitcoin was still undervalued but had the potential to replace gold.
• part supported Bitcoin and also said that he would expect the price of the crypto to increase $ 100 from its trading value of $ 44,000 at the time.
• The billion -dollar risk capital providers made no revelation about the payment of the Founder Fund in the previous month.
• It is worth noting that the fund's decision to repel his token was perfectly coordinated in time, as Bitcoin would experience a massive slump and later even fall below $ 16,000 this year.
• currently the fund has no significant commitment in crypto according to the FT sources.
• In addition, the PayPal co-founder had said that he felt "under invested" in Bitcoin just a few months before the Founders discovered his bets on digital assets.

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