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
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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.
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