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Home»ADOPTION NEWS»Peter Thiel continues to hold Bitcoin despite concerns
ADOPTION NEWS

Peter Thiel continues to hold Bitcoin despite concerns

By Crypto FlexsJune 30, 20243 Mins Read
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Peter Thiel continues to hold Bitcoin despite concerns
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People • June 28, 2024 11:04 AM EDT

Posted 1 minute earlier In ~

Updated: June 28, 2024, 11:28 AM EDT

Former PayPal CEO and Founders Fund co-founder Peter Thiel has confirmed that he still holds Bitcoin, reiterating previous comments that he wished he had bought more earlier.

Asked by CNBC’s Andrew Ross Sorkin at the Aspen Ideas Festival on Thursday whether he had sold any bitcoin, Thiel said, “I still have some. I just haven’t bought as much as I should have.”

However, Thiel does not seem so optimistic about Bitcoin’s price potential, adding, “I’m not sure it’s going to go up that dramatically from here.”

In February, Reuters reported that Peter Thiel’s venture capital firm, Founders Fund, invested $100 million in Bitcoin last year at a price of less than $30,000.

Founders Fund first started investing in Bitcoin in 2014 and reportedly made $1.8 billion by selling before the market crashed in 2022.

Thiel himself has been Bitcoin Bitcoin

-0.063%
defender. During the 2021 bull market, Thiel also said he didn’t feel like he was investing enough in Bitcoin.

According to The Block’s Bitcoin price page, Bitcoin is currently trading at $61,419. The largest cryptocurrency by market cap is down about 5% since the German government began moving seized Bitcoin funds to exchanges last week.

Bitcoin briefly fell below $60,000 on Monday after reports that defunct Bitcoin exchange Mt. Gox would start distributing about $9 billion worth of Bitcoin and Bitcoin Cash redemptions in July.

BTC/USD price chart. Image: Block/TradingView.


Disclaimer: The Block is an independent media outlet providing news, research and data. As of November 2023, Foresight Ventures is the majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information on the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be legal, tax, investment, financial or other advice.

About the Author

James Hunt is a reporter for The Block, based in the United Kingdom. As the writer of The Daily newsletter, James also brings you the latest cryptocurrency news every weekday. Before joining The Block in 2022, James worked as a freelance writer in the industry for four years, contributing content to publications and cryptocurrency projects. James’ coverage ranges from Bitcoin and Ethereum to layer 2 scaling solutions, avant-garde DeFi protocols, evolving DAO governance structures, trending NFTs and Mimecoin, the regulatory environment, cryptocurrency company trading, and the latest market updates. Contact James via @humanjets on Telegram or 𝕏 or email him at (email protected).
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