Peter Thiel Doubts Bitcoin's Future Growth, Despite Past Investments

Tech billionaire Peter Thiel, known for co-founding PayPal and Founders Fund, has expressed skepticism about Bitcoin's (BTC) future price growth. In a recent CNBC interview, Thiel stated that he's unsure if Bitcoin will experience significant price increases from its current level. He questions who will continue buying Bitcoin, especially after the launch of Bitcoin ETFs. Thiel, who still holds Bitcoin, regrets not buying more earlier. Despite his doubts, Founders Fund, the venture capital firm Thiel co-founded, has made significant profits from Bitcoin investments in the past. The fund bought $1.8 billion worth of Bitcoin before the market crash in 2022 and invested another $100 million in 2023, when Bitcoin was below $30,000.