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Peter Thiel Makes a $20M Bet on Bitcoin and Other Cryptocurrencies

Billionaire venture capitalist Peter Thiel is a big fan of cryptocurrency.

The Wall Street Journal reported that Thiel has purchased $15 million to $20 million worth of cryptocurrencies since mid-2017 through his venture capital firm, Founders Fund.

The news spurred a hike in Bitcoin prices Tuesday afternoon to over $15,000 after an unwavering downturn over the holiday break.

Bitcoin peaked in mid-December at $19,800 but dropped by more than one-third to $12,500 right before Ch

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