Peter Thiel stated on Founders Fund, a CNBC program, that he still possesses “some” Bitcoin, but “not nearly as much as there should be.”. Since everyone is concentrating on the performance of spot Bitcoin ETFs right now, he is unsure of when a new “batch of buyers” will enter the market.
I still have my doubts about Bitcoin’s ability to experience widespread growth. I am still unsure of who else could purchase Bitcoin now that we have an ETF. Although the billionaire acknowledges the possibility of a rate increase, he predicts that the coming period will be very unpredictable, marked by both significant drawdowns and growth.
Remember that Thiel’s fund put money into Bitcoin in 2014? In 2022, before the rate dropped, it made $1.8 billion. Unfortunately, his original idea for the first cryptocurrency was completely at odds with what was actually available. When he first heard about Bitcoin, he thought it was a decentralized form of free money. However, “the FBI people say it would be better if criminals used Bitcoin instead of $100 bills, so the technology is not working as it should.”
It seems that Peter Thiel’s investment in cryptocurrency was not on a massive scale, but rumors surfaced at the start of 2024 suggesting otherwise.