Former PayPal CEO and Founders Fund co-founder Peter Thiel revealed in an interview with CNBC journalist Andrew Ross Sorkin at the Aspen Ideas Festival this week that he still holds Bitcoin, although he admitted to buying less. However, Thiel is not very optimistic about the future price potential of Bitcoin. According to a previous report by Zombit, Thiel’s venture capital firm, Founders Fund, closed most of its eight-year-held cryptocurrency positions before the cryptocurrency market crash in 2022, earning approximately $1.8 billion in investment returns. Founders Fund first invested in Bitcoin in early 2014 and continued to increase its investment over the next eight years. Insiders revealed that about two-thirds of the total investment of the fund was used to purchase Bitcoin. By the end of March 2022, Founders Fund had almost completely liquidated all cryptocurrency-related investment portfolios. However, Reuters reported in February of this year that Founders Fund reinvested $100 million in Bitcoin when its price fell below $30,000 in 2023. Thiel himself has long been an advocate for Bitcoin and during the bullish market period in 2021, he also expressed that he felt he hadn’t invested enough in Bitcoin.
