Former PayPal CEO and Founders Fund co-founder Peter Thiel said in an interview with CNBC reporter Andrew Ross Sorkin at the Aspen Ideas Festival this week that he still holds Bitcoin and admitted that he bought less. However, Peter Thiel is not too optimistic about the future price potential of Bitcoin. Peter Thiel said:
"I'm not sure it can rise significantly from current prices."
According to previous reports by Zombit, Peter Thiel’s venture capital company Founders Fund closed most of its eight-year cryptocurrency holdings before the cryptocurrency market crashed in 2022, earning a total investment income of approximately US$1.8 billion. Founders Fund first invested in Bitcoin in early 2014 and continued to increase its investment over the next eight years. Roughly two-thirds of the fund’s total investments are used to buy Bitcoin, people familiar with the matter said. By the end of March 2022, Founders Fund had sold out nearly its entire cryptocurrency-related portfolio.
However, Reuters reported in February this year that the Founders Fund invested another $100 million in 2023 when the price of Bitcoin was below $30,000. Peter Thiel himself has been a long-time advocate of Bitcoin. During the bull market in 2021, Peter Thiel also stated that he felt he did not invest enough in Bitcoin.
This article Silicon Valley venture capital king Peter Thiel admits that he still holds Bitcoin, but has reservations about future price potential. It first appeared on Zombit.