I am going to talk about, PayPal founder, Peter Thiel makes the big bet on Bitcoin.
Bitcoin had become more popular in the last year, but it has been famous at Peter Theil’s company since 2012.
Founders Funds and Peter Thiel’s San Francisco based company known for initial bets SpaceX and Airbnd have been bought a little amount of bitcoin recently, but much than $20 million.
This Bitcoin is now worth for several hundred million dollars, even though Founders Fund has not returned any profits to the investors, said by the person, who asked not to found for that reason the investment has not been commonly exposed.
According to the research company CB Insights, Venture Capital Company turned much than $1.38 billion into blockchain business, firms working on the technology in fundamental bitcoin, during 2016 and 2017. Benefits of the blockchain, a decentralized ledger system, ranging from enterprise software and e-commerce to the more bitcoin currency exchanges, trading platforms, and mining companies.
The performance gap between bitcoin-related startups and bitcoin as a currency has been a critical point during partner meetings at some company. 90% of the companies fail when they take an average of 7 to 10 years to deliver the return.
A Founders Fund spokeswoman established that the company invested in some bitcoin infrastructure companies, but refused to talk about the firm’s ownership of bitcoin.