Founders Fund generated $1.8b in returns
Founders Fund, the venture capital firm co-founded by billionaire Peter Thiel, closed almost all of its eight-year bet on cryptocurrencies shortly before the market began to crash last year, generating about $1.8bn in returns.
New FT article dropped about Peter Thiel selling all his bitcoin.
Peter Thiel’s Founders Fund first bought Bitcoin in 2014 and was one of the first VC firms to do so. They also continued to make investments in the crypto space from 2014.
Then they exited all of their positions, including their core Bitcoin holdings, by the end of March 2022. This generated about $1.8b in returns for investors.
Also another thing that was mentioned in the FT article is that in April of 2022, he continued to express optimism about the future of Bitcoin at Bitcoin Miami and said that it could increase by a factor of 100. Lmao.
It’s just business kid.
