Silicon Valleys Venture Monarch Peter Thiel Candid on Bitcoin Holdings but Cautious of Future Value

Former PayPal CEO and Founders Fund co-founder Peter Thiel, speaking at this week’s Aspen Ideas Festival, disclosed to CNBC’s Andrew Ross Sorkin that he still holds Bitcoin, admitting he should have bought more. However, Thiel expressed cautious optimism about Bitcoin’s future price potential, noting that his venture capital firm, Founders Fund, reportedly closed most of its eight-year cryptocurrency holdings prior to the 2022 crypto market crash, yielding approximately $1.8 billion in investment returns. Founders Fund initially invested in Bitcoin in early 2014 and steadily increased its investment over the following eight years, with sources revealing that about two-thirds of its total investment was allocated to Bitcoin. By the end of March 2022, Founders Fund had nearly liquidated all its cryptocurrency-related investment portfolios. Nonetheless, Reuters reported in February 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 of 2021, he expressed regret over not having invested more in the cryptocurrency.