While the world is reeling from the news that an 87 year old man is skeptical about crypto, let's take a moment to remember that just a few days ago, news emerged that Peter Thiel
>co-founder of Paypal, alongside Elon Fucking Musk
>early-stage investor in Facebook
>co-founder and Chairman of Palantir
INVESTED 20 MILLION DOLLARS IN BITCOIN
By comparison his initial investment in Facebook was 500,000$.
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>20 MILLION DOLLARS
That's pocket change for him.
Libertarians are RIGHT about central banks.
Central banks are cancer and fuck over the working class.
Yeah but it's lunch money pocket change, not chewing gum pocket change.
Lol Peter is a nortorius trader. He started as a commodity and currency trader. He probably just wanted to catch the final hockey stick and then gtfo. There is a reason he made his real wealth investing in real businesses and not trading ponzi
>He probably just wanted to (((create))) the final hockey stick and then gtfo.
Stay woke
How long have you guys known each other?
He didn't really buy Bitcoin. He was trying to type it so he could dump his bags. He's all in ETH now.
Thiel is german and therefore cannot be trusted. He was lucky with Fakebook.
>INVESTED 20 MILLION DOLLARS IN BITCOIN
1. Useless investment of pocket change.
2. Poorfags are like "ZOMG! 20millionz!".
3. Poorfags like OP advertise for free - cheapest publicity ever
Read Thiel's book 'Zero to One.' Fascinating mind.
It's more than most startups get in series A funding.
Says who?
Bitcoin's 24h volume is $18B USD. Fucking idiots like you who have no concept of value beyond 3 figures need to stop posting.
Shuts down Gawker, Libertarian my ass.
Wait what? Are you saying he needs to drop billions for your retarded brain to consider this a serious investment?
See and see crunchbase.com
and note that in most of these his fund is not the sole investor
Bottom line for the mentally challenged: it looks like he's thrown 5-10 times as much at BTC as he would at a typical series A.
correction, before some fucking anorak corrects me on the series A thing - yes I realise the figures from Crunchbase are not Series A. There are a couple of series B (usually larger than A) and mostly seed rounds.
Anyway, I think my point stands, that the alleged 20 million is quite large as Peter Thiel investments go.
>INVESTED 20 MILLION DOLLARS IN BITCOIN
there are literally lvl 100 wizards living in their moms basement that are more heavily invested in bitcoin than this guy
>BTC
>a typical series A.
Not comparable.
Why didn't this noob drop it on LINK or ETH?
You're wrong. For self made millionaires each dollar holds the same weight as the ones they had before - they know the value of money.
>For self made millionaires each dollar holds the same weight as the ones they had before - they know the value of money.
Wrong. When you have 2 billion dollars, 20 million is an amount you can afford lose. When you have 20 million dollars, you can't afford to lose that same amount.
shitty investment bitcoin fucking tanked
hope he diversed into alts
He gave Vitalik a fellowship and $100,000 to start Ethereum.
>I know for a fact that he sold all his ETH when it got liquid around $.50
If he isn't balls deep in ETH right now I would be very surprised.
Vitalik is essentially a success story for his fellowship and will be pushing it SO FUCKING HARD in the future.
Hold on to your butts, this faggot is about to rock your anus.
>Peter Thiel
>Net worth: $2 billion
>Invests 0.1% of his net worth in Bitcoin
>Lauded as a genius
>Omg Bitcoin is going to the moon!
20 million? wow. hold the fucking presses.
im sure some anons here have portfolios bigger than that.
It is still weird that he would buy in now, at an ath..
It may be cautious by your standards, but it's equivalent to what he would give to several companies, which makes it very significant.
>it's equivalent to what he would give to several companies
It's a totally different kind of investment. When you give money to a startup it takes years or decades for you to have a return. With Bitcoin you can cash out anytime. Just put a sell order on GDAX and you've got your fiat back.
Sure, but there is still some risk involved.
I am not saying Peter Thiel jerks off at night thinking about Bitcoin, but he is serious enough to put a big chunk of money on the line.
I posted this mainly in response to all the shit about Warren Buffett, to whom Thiel in terms of his attitude towards cryptocurrency, is in stark contrast. Another thing that puts him in contrast to Buffett, is that he is actually qualified to express an opinion.
>Sure, but there is still some risk involved.
Nah... let's face it. There wasn't any risk involved last year when he invested (summer). He knew that some of his billionaire friends were doing the same so the threw some pocket change into bitcoin.
>Buffet
His opinion is irrelevant when it comes to anything tech.
This
>It is still weird that he would buy in now, at an ath..
He bought it last summer but just now announced it.
Fucking lmao
Underrated
>Another thing that puts him in contrast to Buffett, is that he is actually qualified to express an opinion.
I don't think Thiel's sexual preference makes his opinion anymore qualified than Warren Buffet. There is certain areas where it may be so, but technical expertise is not one of these areas.
Working in sales you find that a lot of the rich people are really stingy with their money. You would think they would have your mindset of it not mattering until you spend an hour arguing about 50 dollars in a cars price.
how do you know they were self made billionares that are worth 2 billion?
They know that the average price of product 'x' is 'y'.
SO they won't pay more than 'y' for 'x' for fear of being cheated. It's not that they really care about the cost of a product relative to their wealth.
It's different when you're investing in Bitcoin. You'll invest an amount that you can afford lose. That amount IS RELATIVE to your wealth.
You generally find out a lot of things about someone in sales that involve credit like the fact that they own a large sum of really expensive things whether they tell you or not.
The next dealership is 3 hours away, they know the value but we put things pretty on the spot so you would spend more in gas getting to that other dealership than you would save. Its not really about the value of a dollar but rather an extremely frugal mindset for maximizing all money. That is something that while not all rich people have, if they do have then no amount of money will change