Archived: Peter Thiel’s Founders Fund Makes Monster Bet on Bitcoin

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Peter Thiel’s Founders Fund Makes Monster Bet on Bitcoin

Rob Copeland

6/25/2022

Founders Fund, the venture-capital firm co-founded by Peter Thiel, has bought large sums of bitcoin that are now worth hundreds of millions of dollars.

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The virtual currency bitcoin continues surging to new highs as a frenzy of investors get in on the action. WSJ's Paul Vigna explains what you need to know, and how to invest should you want to join the mania. Photo: Alexander Hotz/The Wall Street Journal.

By Rob Copeland

Updated Jan. 2, 2018 11:30 pm ET

One of the biggest names in Silicon Valley is placing a moonshot bet on bitcoin.

Founders Fund, the venture-capital firm co-founded by Peter Thiel, has amassed hundreds of millions of dollars of the volatile cryptocurrency, people familiar with the matter said. The bet has been spread across several of the firm’s most recent funds, the people said, including one that began investing in mid-2017 and made bitcoin one of its first investments.

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