Billionaire entrepreneur Peter Thiel recently shared that while he still holds Bitcoin (BTC), he doubts its price will rise “dramatically” as many hope. Thiel made these remarks during an interview at the Aspen Ideas Festival in Colorado on Thursday.
Thiel revealed that he didn’t invest as much in Bitcoin as he wished but remains cautious about its market outlook. Despite this, Thiel’s Founders Fund invested $200 million in Bitcoin and Ethereum earlier this year, with $100 million each going to BTC and ETH.
BTC currently trades around $60,800, up 100% in the past year, showing significant growth from its summer 2023 prices. The fund’s strategic investment highlights the long-term potential of Bitcoin despite short-term volatility.
