Billionaire Peter Thiel is not convinced about the massive growth of Bitcoin

However, he is not yet sure when a new “batch of buyers” will come to the market, since now all attention is focused on the results of spot Bitcoin ETFs.

“I’m not sure that Bitcoin will start to grow on a large scale. Now we have an ETF and I don’t yet know who else could buy BTC. It is quite possible that the rate will rise by some percentage, but it will be a volatile period with large drawdowns and growth,” the billionaire believes.

Note that Thiel’s fund invested in Bitcoin back in 2014, and in 2022, before the rate fell, it recorded a profit of $1.8 billion. However, as it turned out, his vision of the first cryptocurrency did not coincide with reality. He initially saw BTC as an anarchic, government-free money, but “the FBI people say it would be better if criminals used Bitcoin instead of $100 bills, so the technology is not working as it should.”

At the beginning of 2024, information appeared that Peter Thiel was again investing in cryptocurrency, but it seems that the scale of the investment was not too significant.