Peter Thiel's Founders Fund has bought millions of dollars in bitcoin, The Wall Street Journal reported Tuesday, citing sources familiar with the situation.
Those holdings are worth hundreds of millions of dollars, the newspaper says. It wasn't clear whether Founders had sold any of its holdings, the report says.
Bitcoin rises more than 11 percent to trade near $14,711, according to Coinbase.
Founders Fund, run by Peter Thiel, a PayPal co-founder and early Facebook investor, has bought millions of dollars in bitcoin, The Wall Street Journal reported Tuesday, citing sources familiar with the situation.
Bitcoin rose more than 13.5 percent to near $15,017, according to Coinbase, amid the report. As bitcoin's price climbed, trading in the Cboe bitcoin futures was also briefly halted in accordance with pre-set rules.
The venture capital firm bought about $15 million to $20 million of bitcoin, and told investors that after bitcoin's surge in the last year, those holdings are worth hundreds of millions of dollars, the newspaper said. It wasn't clear whether Founders had sold any of its holdings, the report said.
Click below to stat learning
Have you ever taken a look at the darlings of the stock market (you know: Amazon, Apple, Netflix, etc.) and traced back their 100x plus returns and thought…
“If only I had put in [insert small amount of your bankroll back then], I’d have [insert huge returned value] today!”
I know… let’s all have a moment of silence for our shoulda-woulda-coulda $1,000 investment in Apple way back when that would now be able to fund our retirement.
Well, as investors we can do one of two things:
1. We can dwell on the past, and think about the financial freedom we might have had…
2. We can find the next opportunity for a 10-100x return and deploy our cash to make incredible returns, and hedge against any looming financial disasters.
So where are all-star financial minds searching for the next 10-100x opportunity?
You’ve all heard of it, especially Bitcoin, which is by far the most well known. So how has it performed in the last 5 years?
Learn how to start your own online business and earn $ 10,000 weekly. Download Step by step guide for FREE
Learn How to Earn $ 250 Per day with YouTube
Work with me