Key Takeaways
- Peter Thiel, PayPal co-founder, has acquired a 9.1% stake in Fundstrat’s Ethereum Treasury firm.
- The acquisition was revealed by way of a social media submit referencing regulatory paperwork, however monetary phrases weren’t disclosed.
Share this text
Billionaire enterprise capitalist Peter Thiel has acquired a 9.1% stake in BitMine Immersion Applied sciences, a crypto infrastructure firm led by Tom Lee, founder and CIO of Fundstrat, in line with a brand new SEC filing.
Thiel, who reported shared voting and dispositive energy over 5,094,000 shares, joins a rising checklist of institutional backers eyeing crypto-native corporations not only for their mining capabilities, however for his or her rising position as large-scale holders of digital property.
BitMine has positioned itself as a number one Ethereum treasury firm. On July 14, the corporate disclosed that its ETH holdings had exceeded 163,000 ETH, valued at roughly $500 million — greater than double the $250 million it raised in a non-public placement simply 5 days earlier.
BitMine’s technique mirrors the Bitcoin playbook pioneered by MicroStrategy, now rebranded as Technique, which has amassed over 600,000 BTC and redefined how public corporations may deal with crypto as a stability sheet asset.
The acquisition comes after Thiel, alongside different tech billionaires, reportedly established Erebor, a financial institution aimed toward filling the hole left by Silicon Valley Financial institution in serving tech-focused sectors equivalent to synthetic intelligence, crypto, manufacturing, and protection.
Share this text
