According to a newly released report, Silicon Valley Ventures, known for its early investment in Facebook, is entering the cryptocurrency sector.
The Wall Street Journal quoted anonymous sources as saying that the Founders Fund, which is based in San Francisco and co-founded by well-known investor Peter Thiel, bought bitcoins worth between $15 million and $20 million in recent funds.
Although it is not entirely clear when these transactions took place, or whether the company has already sold these digital assets, it is reported that one of the funds has already started this investment in mid-2017.
As a result, the report says the company is now bringing hundreds of millions of dollars in returns to its investors.
According to the CoinDesk Bitcoin Price Index, from May to July 2017, bitcoin prices mostly remained around $2,000 to $3,000, but they have grown strongly over the past six months, reaching a record high of nearly $20,000 in December.
However, given that PayPal, the billionaire co-founder, has already expressed support for Bitcoin, the world's first cryptocurrency, the news may not be surprising.
According to CoinDesk, Thiel said in October last year that he believes that bitcoin critics "underestimated" the value of cryptocurrencies, and that bitcoin is like gold - which means it serves as a long-term value reserve. Have greater potential than a daily payment method.
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