As Bitcoin breaks $50,000 for the 1st time in over 2 years, Wall Street and other significant Silicon Valley companies seem to have slowly started to invest in cryptocurrency.

Half in Bitcoin, half in Ether

The venture capital company Founders Fund, which Peter Thiel co-founded, reportedly purchased $200 million worth of Bitcoin and Ether, according to Reuters. The amount has been divided into two. It was stated that the investments were made in the late summer and early autumn months.

They sold crypto holdings for $1.8 billion

Founders Fund is known as one of the earliest companies in the world to invest in Bitcoin. The company was purchase Bitcoin in 2014, sold before the market decline in 2022, and made a huge profit with pinpoint accuracy. The company sold crypto holdings for $1.8 billion.

Reuters also reported that the price average was unclear, but the value of Bitcoin was below $30,000 during the periods when the company invested.

Peter Thiel, one of the founders of PayPal, is known for the positive statements he has made about Bitcoin many times before. Founders Fund is a company known for its aggressive moves that are different from common investments. The company’s investments include SpaceX and Palantir, as well as many technology companies.