Peter Thiel Founders Fund invested millions of dollars to buy bitcoin

Peter Thiel Founders Fund invested millions of dollars to buy bitcoin

According to a new report, which is famous for its early investment in Facebook’s Silicon Valley venture company FoundersFund is to enter the field of encryption currency.

The “Wall Street journal” quoted unnamed sources of news, headquartered in San Francisco, co founded by well-known investor PeterThiel FoundersFund bought in recent fund in 15 million to $20 million worth of bitcoin.

Although it is not entirely clear of these transactions occurred at a time, or whether the company now has to sell these digital assets, but according to the report, which was a fund in mid 2017 has begun this investment.

Therefore, the report said the company is now the investors brought hundreds of millions of dollars in return.

The timing is right

According to the CoinDesk bitcoin price index, May 2017 to July, bitcoin prices are maintained at about 2000 to 3000 dollars, but in the past six months of strong growth in December reached a record high of nearly $twenty thousand.

However, in view of the billionaire co-founder of PayPal had been the first encryption currency of the world – bitcoin expressed support, so this news is not so surprising.

According to CoinDesk reports, Thiel in October last year had said that he believes bitcoin critics “underestimated” encryption of the value of the currency, and the bitcoin is like gold — which means it as a long-term value of reserves has greater potential, rather than a daily payment.

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