One of the biggest funds on the market sold $1 billion worth of crypto holdings, while its founder actively promoted Bitcoin
As the article suggests, by March 2022, the company has generated $1.8 billion for selling most of their cryptocurrency holdings. Most of the company's investment consisted of Bitcoin. Technically, Thiel's fund sold Bitcoin at one of the best prices available, as it would tank to $15,559 later that year.
However, during his speech at the conference, Thiel did not mention or hint at the fact that his fund has sold most of its holdings. On the contrary, the investor urged attendees to expose themselves to Bitcoin because of the value it brings to the table. Thiel also brought up the fact that BTC is in fact undervalued.
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