Billionaire enterpeneur Peter Thiel says he nonetheless holds Bitcoin (BTC) and continues to help for the benchmark cryptocurrency.
.Thiel has one thing else to say about Bitcoin – particularly about its value. The entrepreneur and founding father of enterprise capital agency Founders Fund says that the value of Bitcoin could not rise as “dramatically” as many hope. Thiel shared this view throughout an interview on the Aspen Concepts Competition in Colorado on Thursday.
Peter Thiel nonetheless holds Bitcoin
In the course of the interview, wherein Thiel commented about Nvidia, TikTok and the upcoming US elections, CNBC’s Andrew Ross Sorkin requested Thiel whether or not he nonetheless held his Bitcoin.
Thiel replied that he “nonetheless holds some”, including that he didn’t purchase as a lot as he would have wished. However when commenting in the marketplace outlook, particularly on Bitcoin value, he shared some warning.
In keeping with Thiel, it’s unlikely that the flagship crypto asset’s worth will “go up dramatically from right here.” The view contrasts with a number of the most bullish predictions for Bitcoin within the house.
Thiel’s Founders Fund purchased $200 million BTC
In February this 12 months, stories recommended Thiel’s Founders Fund had invested $200 million in Bitcoin and Ethereum, with $100 million every going to BTC and ETH. The fund bought the main cryptocurrency with costs hovering round $30,000 in the summertime of 2023.
The contemporary purchases got here after Founders Fund reportedly liquidated all of its Bitcoin that it first acquired in 2014, with promoting executed earlier than the devastating bear market crash of 2022.
Notably, BTC at present trades round $60,800, up 100% prior to now 12 months. Curiously, Thiel’s Founders Fund purchased Bitcoin final summer season – and value was markedly decrease then in comparison with right now.
Whereas the digital asset has struggled since reaching an all-time excessive above $73,000 in March this 12 months, BTC value is up 37% year-to-date (on the time of writing).
