Peter Thiel told CNBC’s Founders Fund that he still has “a little bit” of BTC in his wallet, but he said it’s “not nearly as much as it should be.” He’s not sure when the next “buying party” will come into the market, though, as all eyes are on the performance of Bitcoin spot ETFs.
“I’m not sure that Bitcoin will start to grow on a large scale. Now we have an ETF and I don’t yet know who else could buy BTC. It is quite possible that the rate will rise by some percentage, but it will be a volatile period with large drawdowns and growth,” the billionaire believes.
It should be noted that Thiel’s fund invested in Bitcoin back in 2014, and in 2022, before the rate fell, it recorded a profit of $1.8 billion. However, as it turned out, his vision of the first cryptocurrency did not coincide with reality. Initially, he saw BTC as anarchic money, uncontrolled by governments, but “people from the FBI say that criminals would be better off using Bitcoin rather than $100 bills, so the technology does not work as it should.”
In early 2024, there were reports that Peter Thiel was investing in cryptocurrency again, but it appears the scale of the investment was not very significant.
Source: Bits
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