Peter Thiel’s Founders Fund bought $200M BTC, ETH before institutions dived into Bitcoin ETFs

Institutional investors are beginning to experience soaring demand for Bitcoin as spot exchange-traded funds (ETFs) open up the asset class to the wider financial system.

Institutional investment into Bitcoin (BTC) and cryptocurrencies continues to make headlines, with Peter Thiel’s Founders Fund reportedly sinking $200 million into BTC and Ether (ETH) in 2023.

According to a Reuters report citing sources with intimate knowledge of the venture capital fund’s cryptocurrency investment move, Thiel’s firm invested $100 million in BTC and ETH, respectively, as talk of pending Bitcoin exchange-trade fund (ETF) approval ramped in the United States in 2023.

Related: Bitcoin trades above $50K again — but it’s very different this time

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