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Title : Peter Thiel Fund Took Massive Set Inward Bitcoin
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Peter Thiel Fund Took Massive Set Inward Bitcoin

Founders Fund, the venture-capital theatre co-founded past times Peter Thiel, has amassed hundreds of millions of dollars of the volatile cryptocurrency, people familiar alongside the affair said. The bet has been spread across several of the firm’s nigh recent funds, the people said, including ane that began investing inwards mid-2017 in addition to made bitcoin ane of its outset investments, reports The Wall Street Journal.

According to WSJ, Founders bought or then $15 meg to $20 meg inwards bitcoin, in addition to it has told investors the firm’s haul is forthwith worth hundreds of millions of dollars afterwards the digital currency’s recent spike higher.

But snuff it this.

WSJ continues:

By buying bitcoin outright, every bit opposed to backing other companies doing draw of piece of job organisation inwards the space, Founders would appear to hold upwards breaking alongside its investing tradition, an investor said. But inwards communications alongside investors, Founders representatives conduct maintain sought to form the investment every bit a high-risk, high-reward wager similar to its other venture bets, the people familiar alongside the affair said. 

The representatives conduct maintain told theatre backers that a cascade of cash into technology companies has stretched their valuations to historic highs, making stakes inwards startups every bit unsafe a adventure every bit ever. 

Say what? Tech startups are overvalued then you lot seat your money into an e-currency fueled past times the same Janet Yellen money printing that has caused the startups to hold upwards overvalued but you lot mean value an electronic currency that does non reverberate whatever sort of product, in addition to has likewise expensive of a transaction terms to e'er hold upwards a daily medium of telephone substitution (current transaction terms to but a loving cup of Starbucks coffee, or anything else, is $55.00), has existent value?

Who is leaking this even out to WSJ in addition to why?

-RW

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