Thiel and the Founders Fund, however, don't appear to share those concerns, and are instead pitching Bitcoin to their investors as "a high-risk, high-reward wager similar to its other venture bets", the report said. In the hours following the release of the Journal report, the cryptocurrency surged upward in price by almost $1,000 after early trading that had already been on a more modest upward trend.
Peter Thiel said Bitcoin is the gold in the cyber age.
Already, Bitcoin represents the most profitable portion of the recent $1.3 billion Founders' Fund VI.
He further advised the bank to put around 1 per cent of Ghana's reserves in bitcoin.
However, the price of bitcoin fell to as low as below $12,500 at the end of December, according to the price chart on CoinDesk. This wave is expected to be totally reversed by an upward wave (5). The Journal says the company claims its investment is now worth hundreds of millions of dollars.
Founders began buying into bitcoin before the recent volatility, and the decision was made by Thiel and Founders' other investment partners, the unnamed sources told the Journal.
CES 2018: six star cars to watch out for
Voice assistants made a big impact at CES past year , but next week they will be all but inescapable on the show floor. About a dozen self-driving vehicles from automakers like Ford, Mercedes-Benz and Nissan will be at this year's show.
Over on Stack Exchange, Bitcoin writer and researcher David Harding made and explanatory post about Channel Factories, which are a proposed method of improving the scaling properties offered by the Lightning Network.
The venture capital firm bought about $15 million to $20 million in bitcoin, and told investors that after bitcoin's surge in the previous year, those holdings are worth hundreds of millions of dollars, the newspaper said.
That is the quandary that the bitcoin industry is facing at this point and that is the reason why we are seeing some choppy trading in the markets over the last couple of weeks.
Moira Donegan Outs Herself As Creator Of 'S**tty Media Men' List
Appreciation for Donegan: HuffPost's Dominique Mosbergen compiled reactions to Donegan's essay from journalists. Donegan also notes that old-school whisper networks "are social alliances, and as such, they're unreliable.
At least 25 killed by vehicle bomb in Syria
Some residents blame the Islamic State group for such attacks, although the group has no open presence in the province. It said Syrian air defenses confronted the Israeli attacks, but without giving further details.