Former PayPal CEO Peter Thiel’s venture capital firm Founders Fund invested $200 million in bitcoin and ether last year.

The fund invested $100 million in each of the two largest cryptocurrencies from late summer to early fall of 2023, according to a Reuters report. Bitcoin’s price was below $30,000 at the time of the purchase.

Founders Fund reportedly began investing in Bitcoin in 2014 and made $1.8 billion by selling before the 2022 market collapse.

Thiel himself has been a longtime bitcoin advocate. During the 2021 bull run, Thiel said that he feels as though he had not invested enough in bitcoin, according to a Bloomberg report.

An early investor in SpaceX and Meta, Founders Fund reportedly has more than $12 billion in assets under management as of 2023. Founders Fund did not …