The price of Bitcoin increased by 13.5 per cent to $15,017 (£11,071) after a report found billionaire Peter Thiel, an early investor in Facebook and co-founder of Paypal, had heavily invested in the cryptocurrency.
Thiel’s venture capital firm, Founders Fund, bought around $15 to $20 million (£11 — 14.7m) in Bitcoin in mid-2017, the report said.
Bitcoin bought by Thiel’s firm are now believed to be worth hundreds of millions after the currency’s surge last year.
Most mainstream investors have not bought large sums of Bitcoin over fears about cybersecurity and liquidity.
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Peter Thiel’s venture capital firm, Founders Fund, bought around $15 to $20 million (£11 — 14.7m) in Bitcoin in mid-2017
<div class="art-ins mol-factbox floatRHS sciencetech" data-version="2" id="mol-7fddf7f0-f076-11e7-bb3a-653dc7186eb8" website rises as report reveals Peter Thiel invested in 2017
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