THIEL INVESTS IN BITCOIN
Paypal co-founder, Facebook and Google investor Peter Thiel buys Bitcoin
The Wall Street Journal reported this week that Founders Fund, a venture capital company co-founded by Peter Thiel, has made a Bitcoin investment worth hundreds of millions of dollars. Peter Thiel is one of the founders of Paypal, who is also one of Facebook’s early investors and is also known as a Google investor.
Thiel said at a conference in October that people are underestimating Bitcoin and he compared the number one crypto-currency to gold. "If bitcoin ends up being the cyber-equivalent of gold it has a great potential left," he said.
If we take into consideration who had any faith in internet payment options (such as Thiel’s co-founded Paypal) when this technology appeared in the 90’s, and how basic and essential this payment method has become by now;
Or if we look at Google that was nothing more than another browser in the beginning, and today it is a giant, powerful global corporation which is ranked number 2 on Forbes’ list of world brands, worth more than 100 billion dollars;
We don’t even have to elaborate on the website that started out as a private university project, and which is known as Facebook by more than 2 billion people who use it today;
And behind all these companies there is Peter Thiel as investor, who anticipated all three companies’ unbelievable success when others doubted whether it was a good idea to invest in Paypal, Google or Facebook.
Well, this is the Peter Thiel who, through Founders Fund co-founded by him, decided to make a Bitcoin investment that is worth hundreds of millions of dollars.
As soon as the Wall Street Journal's article on Thiel's investment came out, Bitcoin’s price increased by more than 13% according to Coinbase. That’s how much Thiel’s name matters …