Peter Thiel Fund acquires 9.1% of the Bitmine company, with Ethereum Treasury

By Hannah Pérez

The acquisition in Bitmine occurs at a time when companies with Treasury of Ethereum arise and in which the price of the second cryptocurrency jumps over USD $ 3,200.

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• A Peter Thiel fund acquired shares in Bitmine, a company focused on Ethereum.
• Once a Bitcoin miner, Bitmine assumed an ETH Treasury strategy this year.
• It is not the only one, other public companies such as Sharplink and Bit Digital also pursue that play.
• ETH extends weekly profits and jumps over USD $ 3,200 this Wednesday.

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Billionaire Peter Thiel, known for his role as PayPal co -founder, is obtaining indirect exposure to Ethereum (ETH) Now that one of its entities invests in a company focused on the second largest cryptocurrency.

FOUNDERS FUNDa risk capital firm founded by Thiel, has acquired A 9.1% participation in the public company Bitmine Immersion, reported Bloomberg citing a regulatory presentation.

The entities belonging to FOUNDERS FUND Now they have more than 5 million shares of the company with Treasury Ethereum.

The transaction would have been led by the Risk capital firm based in Texas, MOZAYXwhich received a 9.99% participation in the business, according to the report. They also participated Panther, Falconx, Kraken, Galaxy Digital and others, the public documents of the US stock and values commission reveal. UU. (SEC).

Once Minero de Bitcoin, now bet on Ethereum

Bitminewhich quotes its actions in Nyse, and once focused on the mining of Bitcoin taking advantage of immersion cooling technology, pivoted this year towards a strategy to accumulate Ethereum as its main reserve asset in Treasury.

At the beginning of the week, Bitmine declared that I had almost USD $ 500 million in Ethersince it has spent twice the 250 million dollars generated by the sales of shares to accumulate a stash of 163,000 ETH.

The company’s BMNR shares rose almost 20% After opening the market on Wednesday at USD $ 47.8, according to data from Google Finance at the time of editing. The increase amounts to 907.16% in the last month.

Ethereum’s corporate treasury arises

The movement of Bitmine It is not isolated, and occurs in the midst of a broader trend of public and deprived companies of building cryptocurrency treasures, in an attempt to replicate the successful model of Strategy with Bitcoin.

While the vast majority have focused on Bitcoin For their reservations, others such as Bitmine, Sharplink and Gamesquare They have focused on Ethereum. There are also corporations that have invested in Altcoins as Solarium and XRP For your treasury.

The public company Sharplink Gaming This week became the largest corporate holder of Ethereum of the world, even surpassing the Ethereum Foundation, after raising its balance to 280,706 ETH – valued in more than USD $ 864 million.

The interest of companies to invest in ETH from their corporate portfolios coincides with a bullish moment which has seen the second largest cryptocurrency in the world resume a maximum of several months over USD $ 3,000. Ether 7.7% higher in 24 hours is negotiated and with a gain of 23% in the week, around USD $ 3,248 at the time of editing.

New companies have also appeared that pursue the play. Earlier, it was reported that Fitzgerald singer would be in conversations with the pioneer of BitcoinAdam Back, to carry out an agreement of more than USD $ 3 billion that would create a treasury company Bitcoin. This would be the second of that type for the bank, which already supported the launch of Twenty One This year.

Thiel and cryptocurrencies

It is worth noting that Thiel and his entities have been sponsors of cryptocurrencies for a long time, in one way or another, either investing in companies focused on Blockchain or buying Bitcoin and Ethereum directly.

Last month, Bullishthe exchange of cryptocurrencies backed by Thiel, presented confidentially for an initial public offer (IPO), joining the list of companies in the industry that seek to make public in the United States.

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Hannah Estefanía Pérez / Diariobitcoin

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