Peter Thiel’s Founder Fund has liquidated a position in BTC and earned $1.8 billion with the transaction, the Financial Times has reported.
Recall that the first time the fund invested in Bitcoin was in 2014. The share of the asset in the total AUM at the maximum was up to two-thirds.
According to reports, the liquidation of the company’s position in Bitcoin took place mainly in 2022, amid the decline in the price of the asset.
The moment coincided with Thiel’s speech at the Bitcoin 2022 conference in Miami, where he noted he was optimistic about the future of Bitcoin due to the “end of the fiat currency regime.” He suggested BTC could rise in price a hundred times from the $44,000 mark at that time.