\n
![](\"https:\/\/bitcoinmagazine.com\/.image\/c_fit%2Ch_800%2Cw_1200\/MTg4NjIxODg3NjEyMzk3MzAw\/peter-thiel.jpg\")
<\/p>\n [ad_1]
\n<\/p>\n
Founders Fund, the venture capital firm founded by billionaire Peter Thiel, has invested $100 million in bitcoin, sources exclusively informed<\/a> Reuters. The firm allocated $200 million to acquire Bitcoin and another cryptocurrency, evenly split between the two. This maneuver further highlights the return of institutional investors to Bitcoin.<\/p>\n Founders Fund, an early institutional investor in bitcoin, initially bought BTC in 2014 but liquidated its holdings before the 2022 crash, earning approximately $1.8 billion. The firm resumed its bitcoin investments last summer, strategically acquiring bitcoin and another cryptocurrency when price was below $30,000.<\/p>\n Thiel, known for his libertarian views and co-founding PayPal and Palantir, has publicly<\/a> endorsed bitcoin, praising its attributes as a store of value and hedge against central bank policies. With assets exceeding $12 billion under management, Founders Fund continues to expand its investment portfolio, with a renewed focus on crypto ventures.<\/p>\n This resurgence comes after a challenging period for the Bitcoin market in 2022, marked by the collapse of major players like crypto exchange FTX. Despite bitcoin’s price plunging to nearly $15,000, its lowest since 2020, the Bitcoin market has seen a gradual recovery, with bitcoin recently hitting<\/a> $50,000 for the first time in over two years, albeit still below its peak of $69,000 in November 2021.<\/p>\n