Peter Thiel continues holding Bitcoin despite reservations

Former PayPal CEO and Founders Fund co-founder Peter Thiel has confirmed he still holds bitcoin, reiterating previous remarks wishing he had bought more earlier.

Responding to a question from CNBC’s Andrew Ross Sorkin at the Aspen Ideas Festival on Thursday, asking if he had sold any bitcoin, Thiel said, “I still hold some. I didn’t buy as much as I should have.”

However, Thiel didn’t sound too optimistic about bitcoin’s price potential, adding, “I’m not sure it's going to go up that dramatically from here.”

In February, Reuters reported that Peter Thiel’s venture capital firm Founders Fund had invested $100 million in bitcoin last year, at a price below $30,000.

Founders Fund reportedly first began investing in bitcoin in 2014, making $1.8 billion by selling before the 2022 market collapse.

Thiel himself has been a longtime Bitcoin advocate. During the 2021 bull run, Thiel also said he felt as though he had not invested enough in bitcoin.

Bitcoin is currently trading for $61,419, according to The Block’s bitcoin price page. The largest cryptocurrency by market cap is down around 5% since the German Government started moving seized bitcoin funds to exchanges last week.

Bitcoin briefly fell below $60,000 on Monday following the news that defunct bitcoin exchange Mt. Gox is set to distribute around $9 billion worth of bitcoin and bitcoin cash repayments from July.