Tech billionaire Peter Thiel, known for co-founding PayPal and Founders Fund, has expressed skepticism about Bitcoin's (BTC) future price growth. In a recent CNBC interview, Thiel stated that he's unsure if Bitcoin will experience significant price increases from its current level. He questions who will continue buying Bitcoin, especially after the launch of Bitcoin ETFs. Thiel, who still holds Bitcoin, regrets not buying more earlier. Despite his doubts, Founders Fund, the venture capital firm Thiel co-founded, has made significant profits from Bitcoin investments in the past. The fund bought $1.8 billion worth of Bitcoin before the market crash in 2022 and invested another $100 million in 2023, when Bitcoin was below $30,000.
Benzinga•1 year ago•
1680
Peter Thiel Doubts Bitcoin's Future Growth, Despite Past Investments
Bitcoin
PeterThiel
Crypto
Investing
Fintech
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Summary:
Peter Thiel, a tech billionaire and co-founder of PayPal and Founders Fund, is skeptical about Bitcoin's future price growth.
He doubts whether Bitcoin will see significant price increases from its current level.
Thiel questions who will continue buying Bitcoin after the launch of Bitcoin ETFs.
Despite his skepticism, Thiel regrets not buying more Bitcoin in the past.
Founders Fund, the venture capital firm Thiel co-founded, has a history of profitable Bitcoin investments, having bought $1.8 billion worth before the 2022 market crash and another $100 million in 2023.
Bitcoin's current price is $63,259.56, up 3% in the last 24 hours.
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