Peter Thiel Made $200M Investment in BTC, ETH Before Bull Run

 According to a source, the investment was evenly divided between the two digital assets, Bitcoin and Ethereum.

Peter Thiel's Founders Fund has reportedly invested $200 million in both Bitcoin and Ethereum before the onset of the bull market. The fund made this strategic move, selling off its crypto holdings for $1.8 billion ahead of the crypto winter in 2022, as outlined in a report by Reuters.

According to CoinDesk Indices data, Bitcoin (BTC) has experienced a nearly 124% surge in the past 12 months, while Ether (ETH) has seen a rise of 75%. During the same period, the CoinDesk 20 Index (CD20) has demonstrated an approximately 86% increase.

Founders Fund, led by Peter Thiel, initiated its Bitcoin purchases when the price was below $30,000 and continued to acquire more BTC and ETH in the subsequent months, as per sources cited by Reuters.

Peter Thiel has been a long-time advocate of Bitcoin, associating its price surge with a critical perspective on central banks and fiat currency. During the bull run of 2021, he expressed a sense of being "underinvested" in the world's largest digital asset.

Founders Fund strategically sold off the majority of its cryptocurrency holdings for $1.8 billion in March 2022, just before the onset of the crypto winter, as reported by the Financial Times last year. Notably, Founders Fund had previously invested in Bitcoin with an amount ranging from $15 to $20 million during the 2017-2018 bull market.

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