In the third quarter of 2023, Peter Thiel's Founders Fund allocated $200 million to Bitcoin and Ethereum, distributing the investment equally between the two cryptocurrencies. This move signals the resurgence of institutional interest in digital assets after setbacks from the FTX collapse and increased regulatory scrutiny. 

Historically, Founders Fund was among the pioneers in venture crypto investments, having aggressively purchased Bitcoin in 2014 and sold it before the 2022 downturn for a profit of $1.8 billion. Thiel's latest investments were made when Bitcoin's price was under $30,000, leading to an approximate 66% unrealized gain with its current value at $50,000.

Renowned for backing groundbreaking companies like Meta and SpaceX early on, Founders Fund continues its focus on transformative technology investments.