Investor Peter Thiel made $1.8 billion, in revenue returns, before the market started to crash last year.
Founders Fund, the venture capital firm co-founded by billionaire Peter Thiel, closed almost all
of its eight-year bet on cryptocurrencies shortly before the market began to crash last year,
generating about $1.8bn in returns. The San Francisco-based fund made its first investment in
bitcoin The San Francisco-based fund made its first investment in bitcoin in early 2014 and
went on to invest large sums in crypto. About two-thirds of its overall investment was used to
buy bitcoin, said people close to the fund.