- The media has claimed that a major venture capital firm Founders Fund has invested a significant amount in bitcoin and Ethereum.
- The firm’s unrealized profits, if the investments took place, reached $66 million and $73 million respectively.
Venture capital firm Founders Fund, founded by billionaire Peter Thiel, has invested $200 million in bitcoin and Ethereum, Reuters reports, citing its sources.
According to the publication, the firm acquired crypto assets at the end of the third quarter of 2024. Bitcoin the company began buying when the coin’s exchange rate was below $30,000, the sources said.
The exact structure of the portfolio is unknown at the time of writing. Reuters noted that the firm has invested $100 million each in bitcoin and Ethereum, in which case Founders Fund’s unrealized gain from investing in the former cryptocurrency is about $66 million.
Ethereum was trading at $1500 in late summer 2022, according to TradingView. In this case, the unrealized gain is higher at about $73 million.
At the time of writing, Founders Fund had no comment on this information.
Reuters noted that the company has been actively investing in crypto assets since 2014. Before the start of the cryptozyme at the end of 2021, the firm liquidated the portfolio, receiving $1.8 billion, added here.
Recall, on February 13, 2024, the bitcoin exchange rate broke the $50,000 mark. Against this backdrop, the asset dominance and the fear and greed index rose. The latter reached a maximum of November 2021.
