Peter Thiel does not hope Bitcoin value to undertake a sizeable raise

Hey there! At any time read of billionaire entrepreneur Peter Thiel? Properly, he is even now holding on to his Bitcoin (BTC) and exhibiting his assist for this well-liked cryptocurrency.

But wait, there is far more! Thiel recently shared his thoughts on Bitcoin’s selling price. In the course of an interview at the Aspen Tips Festival, he outlined that the cost of Bitcoin may possibly not skyrocket as considerably as some people today hope.

Peter Thiel’s Bitcoin Stance

When questioned about his Bitcoin holdings in the course of the job interview, Thiel, who also talked about Nvidia, TikTok, and the US elections, unveiled that he even now has some Bitcoin. Whilst he wishes he experienced acquired extra, he just isn’t much too optimistic about a sizeable price enhance.

According to Thiel, it is really unlikely that Bitcoin’s worth will encounter a big surge relocating ahead. This differs from the bullish predictions many are building about the cryptocurrency.

Founders Fund’s Bitcoin Financial investment

Did you know that Thiel’s Founders Fund invested $200 million in Bitcoin and Ethereum previously this calendar year? They distributed $100 million to each cryptocurrency, creating the transfer when Bitcoin was priced close to $30,000 in the summer season of 2023.

This new financial commitment arrived immediately after the fund offered off all its Bitcoin holdings from 2014 before the bear current market crash in 2022. With Bitcoin now trading at close to $60,800, it can be exciting to observe that Founders Fund built their acquire at a substantially lessen value stage.

Even with Bitcoin’s struggles right after hitting an all-time high this 12 months, the rate has still managed to boost by 37% because the starting of the calendar year (at the time of composing).

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