Founders Fund, a venture capital firm co-founded by Peter Thiel and managing $11 billion in assets, reportedly liquidated most of its Bitcoin investment, which was purchased eight years ago, before the crypto market crash, earning over $1.8 billion in profits.<\/p>\n
The timely sale allowed the Founders Fund to hold Bitcoin during two consecutive bull markets. However, this move contrasts with Thiel’s comments at a 2022 conference in Miami, where he expressed optimism about Bitcoin’s future and stated “we’re at the end of the fiat money regime.”\u00a0<\/p>\n
It is worth noting that Founders Fund had invested two-thirds of its portfolio in Bitcoin back in 2014. After the sale, the company has minimal exposure to the crypto market, which has seen significant losses in value.<\/p>\n
Although the company has not publicly reported the sale, as a private company, it is not obligated to do so to the SEC or any other government agency. It is unclear if Founders Fund plans to re-enter the crypto market in the future, as it has not publicly announced any intentions to do so. <\/p>\n
Currently, Founders Fund is an indirect investor in Dogecoin through its investments in companies such as SpaceX and Palantir.<\/p>\n
Additionally, Stripe, a company in which Founders Fund has invested, has significantly invested in cryptocurrency payments, including enabling fiat-to-crypto on-ramp transactions. This suggests that Founders Fund is still bullish on cryptocurrency and blockchain technology despite liquidating its Bitcoin holdings. <\/p>\n
The firm has also invested in other industries such as health, energy, and artificial intelligence. Overall, Founders Fund’s investment strategy is diversified and not solely focused on cryptocurrency.<\/p>\n