Peter Thiel’s Investment in Bitcoin Sent It back up near $15,000

Bitcoin is back above $14,000 after dipping and remaining below $14,000 during the New Year weekend.

Peter Thiel’s Founders Fund has bought millions of dollars of Bitcoin according to the Wall Street Journal.  Peter Thiel is a PayPal co-founder and an early Facebook investor.  These holdings are worth hundreds of millions of dollars; however, it wasn’t clear whether Founders fund had sold any of its holdings.  Nonetheless, bitcoin rose more than 10 percent to trade near $15,000 at the moment. 

Last week, South Korea announced that it might shut down some of the Bitcoin trading exchanges.  The news sent the Bitcoin instantly lower and even traded further lower during the long New Year weekend.

Bitcoin opened at $993 on January 2nd, 2017.  It closed at $13,863 on December 31, 2017, which was a whopping 1,296% appreciation. 

Leave a comment

Your email address will not be published. Required fields are marked *