Here’s How This Firm Made $1.8Bn Through Bitcoin

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Founders Fund is a San Francisco based venture capital firm, which is co-founded by billionaire Peter Thiel, closed 8-year bet on cryptocurrencies.

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Through this the venture capital firm almost generated $1.8bn in returns.

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The company reportedly made its first investment in bitcoin in early 2014 and has since invested heavily in crypto.

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About two-thirds of the total investment was reportedly used to buy Bitcoin. However, the company currently has no significant exposure to cryptocurrencies.

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Before the digital asset market downturn, the firm sold the majority of its entire crypto by the end of March 2022.

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Thiel at a crypto conference in Miami said “we’re at the end of the fiat money regime” and also suggested that price could see a 100-fold increase.

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Bitcoin price rose from $750 in 2014 to $65,000 in November 2021. At the press time, the BTC price is $20,752.

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