Peter Thiel, former CEO of PayPal and co-founder of Founders Fund, confirmed that he continues to hold Bitcoin (BTC) despite expressing some reservations about its future price potential.
During his recent interview with CNBC's Andrew Ross Sorkin at the Aspen Ideas Festival, Thiel was asked if he had ever sold his Bitcoin holdings. “I still have some. But I didn't take as much as I should have,” he admitted.
However, Thiel expressed some doubts about Bitcoin's future price potential. “I'm not sure it's going to go up that dramatically from now on,” he said, tempering the expectations of those hoping for another significant price increase.
Earlier this year, Reuters reported that Thiel's venture capital firm, Founders Fund, invested $100 million in Bitcoin last year when the price was below $30,000. The firm reportedly began investing in Bitcoin as early as 2014 and made a staggering $1.8 billion by selling before the market crash in 2022.
Despite his recent comments, Thiel has long been an advocate for Bitcoin. During the 2021 bull run, he expressed regret for not investing more in BTC.
*This is not investment advice.