"Hmm even if he thinks he still doesn't have enough BTC, not to mention us who are anchovies."


Before the market started bleeding, Founder Fund founder Peter Thiel, who is a staunch supporter of the mother of all cryptocurrencies Bitcoin (BTC), decided to sell a large amount of his digital assets for a profit of $1.8 billion.


It is reported that Thiel has been investing in BTC for the past eight years when the price was below the $1,000 mark and until now he has made a handsome profit as the digital asset managed to break out of the price zone he bought.


During the BTC 2022 conference in Miami in April, he not only supported BTC but also encouraged investors to increase their purchases of the digital asset because it has the potential to replace gold even though it is still undervalued.



Thiel previously also expected the price of BTC to climb 100 times from its then trading value of $44,000.


Meanwhile, it was found that he did not make any disclosure of money withdrawals for the Founders Fund.


Even so, the company's funds were not greatly affected even though BTC overnight plunged massively last year by being below the $16,000 price level.


In the meantime, before the Founder Fund bought another amount of BTC, Thiel who is also the co-founder of PayPal felt that he still lacked investment in the digital asset.