Thiel predicted 100x gains for Bitcoin a month around the same time his fund sold its crypto holdings.
Peter Thiel has been a long-time Bitcoin backer. But his fund closing almost all its crypto positions shortly before the market went downhill did not sit well with many.
According to Fortune’s latest report, Thiel’s VC firm – Founders Fund – cashed out all of its bets on cryptocurrencies and made $1.8 billion in profit while doing so.
Chayanika has been working as a financial journalist for three years. A graduate in Political Science and Journalism, her interest lies in regulatory implications with a focus on technological evolution in the crypto realm. Contact:Linkedin
Sign-up FREE to receive our extended weekly market update and coin analysis report
