Bitcoin latest: Cryptocurrency rebounds after report PayPal founder has invested millions

Bitcoin latest: Cryptocurrency rebounds after report PayPal founder has invested millions

The value at the time of purchase is estimated to have been between $15 and $20 million, though the exact volume of Bitcoin held by the fund is unknown.

After reaching almost $20,000 in mid-December, bitcoin's record price, the cryptocurrency has been on a decline, registering a low of $10,700 on December 22. He is a partner at Founders Fund, a Silicon Valley venture capital firm that has funded companies like SpaceX and Airbnb.

Bitcoin has attracted a flood of investors globally in the past year, from Wall Street traders to college students in Korea.

Facebook early investor and PayPal co-founder Peter Thiel bought millions of dollars' worth of Bitcoin through his VC firm, Founders Fund, and that number is cited to be worth hundreds of millions today.

Founders Fund, Thiel's venture capital firm, is betting on cryptocurrency across a number of recent funds, including one that started in 2017 with its first investments in bitcoin.

But despite the volatility, Thiel's fund seems to find Bitcoin a more promising bet than its stated objective of investing that money in startups.

Benjamin Netanyahu to visit India on January 14
India has a long and wide ranging defence cooperation with Israel. "New areas of cooperation are actively being explored". Now trade between the two countries is around 5 billion United States dollars, of which three billions is for exports.

Ibuprofen intake could be leading to male infertility
No direct effect on fertility was shown, but the results of this initial study suggest that it warrants further investigation. Ibuprofen is a nonsteroidal anti-inflammatory drug (NSAID) used to treat fever, pain, and inflammation.

Australia recall White to replace Lynn for England ODIs
His recall leaves Victorian teammate Maxwell at the crossroads with the national side already planning for the 2019 World Cup. Glenn Maxwell, who was rumoured to be in the running despite being left out of the initial squad, was overlooked once again.

"Bitcoin is forbidden in Sharia as it causes harm to individuals, groups and institutions", Egyptian daily Ahram quoted the fatwa as saying on January 1. According to a recent report, it would seem that Thiel was a big believer in Bitcoin, as well.

Even though Bitcoin has been growing in popularity and influence over the last few years, many traditional institutions are still skeptical of its viability, Business Insider reports.

The price of Bitcoin has been on a roller coaster ride rising from less than a thousand dollars at the beginning of 2017 to about $20,000 at one point several weeks back.

In October, he called Bitcoin the gold in the cyber age at an event in Riyadh, Saudi Arabia.

When discussing all types of cryptocurrencies, Thiel pointed out: "While I'm skeptical of a lot of them, I do think people are a little underestimating Bitcoin specifically".

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