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

Peter Thiel bitcoin

And while it regained some value (about $1,000) over the next two days, the big jump came Tuesday, with nearly $1,800 being added to its price in about two hours.

Founders Fund, the Silicon Valley venture capital firm known for its early investment in Facebook, is stepping into the world of cryptocurrencies, according to a new report.

That being said, investors and traders may see accumulation from a renowned venture-capital fund as a hugely positive sign, and given how Peter Thiel has, in the past, spoken about Bitcoin's massive potential, this story can give Bitcoin the boost it needs to emerge out of its recent slump. High-profile investors like Warren Buffet and JPMorgan Chase CEO Jamie Dimon have publicly questioned the reliability of Bitcoin as a financial asset.

Per Bitsonline's resident technical analyst Ramiro Burgos' latest report, the bitcoin price now seems poised to make a sustained, long-term rally toward the astonishing $50,000 Dollars milestone.

What is interesting about this recent Bitcoin surge is that the WSJ story does not seem to indicate that the fund is now buying the digital currency.

The price of the leading cryptocurrency has risen up by 14% and reached to $15,444 in the past few hours (trading at $15,356, as of writing).

It's unclear whether Founders Fund has sold any cryptocurrency holdings since initial purchase. In October, after his fund had already started investing in bitcoin, Thiel said the cryptocurrency was not needed to make payments, but instead, could be used as something like gold, a reserve form of money.

And, Bitcoin prices reacted fairly swiftly, with the news about someone with the clout and track record like Thiel sending Bitcoin soaring.

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".

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.

Related News:

  • Cleveland Browns: What now?

    Cleveland Browns: What now?

    I will say that he should feel like he has to coach and get along within this new Browns organization like his job depends on it. The Cleveland Browns did not win a game in 2016, joining the Detroit Lions as the only teams to go winless in a 16-game season.
    Baidu Selects ON Semiconductor Image Sensors For Its Apollo Autonomous Driving Platform

    Baidu Selects ON Semiconductor Image Sensors For Its Apollo Autonomous Driving Platform

    QNX will be the operating system for "Apollo", a platform for self-driving vehicles that Baidu announced in April previous year . Baidu's president, Ya-Qin Zhang, will be speaking at the Consumer Electronics Show on a panel about self-driving vehicles.
    Macron urges European unity to face rising China

    Macron urges European unity to face rising China

    Its president, Dominique Langlois, is part of the delegation of about 50 business leaders who joined Macron for his trip. The 40-year-old has deployed a mix of charm and threats on his first state visit since taking office in May.
  • Hot Stock's Highlights: Delta Air Lines Inc (NYSE: DAL)

    Hot Stock's Highlights: Delta Air Lines Inc (NYSE: DAL)

    It dived, as 22 investors sold DIN shares while 34 reduced holdings. 49 funds opened positions while 123 raised stakes. Finally, Teachers Advisors LLC increased its holdings in shares of Delta Air Lines by 65.0% during the second quarter.
    PUBG Corp. Announces Free BP to Compensate Players for Recent Currency Issue

    PUBG Corp. Announces Free BP to Compensate Players for Recent Currency Issue

    Sort it out, the game is ruined, stop just thinking about making money all the time. Players can use this while their characters exit the plane and use a parachute .

    Brokerages Set Yamana Gold Inc. (AUY) PT at $3.52

    TheStreet raised shares of Yamana Gold from a "d+" rating to a "c-" rating in a research note on Friday, December 29th. Raymond James Financial Services Advisors Inc. increased its stake in Yamana Gold by 16.5% during the 2nd quarter.
  • TY Hilton named to fourth straight Pro Bowl

    TY Hilton named to fourth straight Pro Bowl

    The highlight came November 5 at Houston when Hilton caught five passes for 175 yards and two touchdowns in a 20-14 victory. Green is nursing an undisclosed injury and will sit out the event on January 28 at Camping World Stadium in Orlando, Fla.
    Hina Khan speaks bad about Shilpa Shinde and disappoints yet again

    Hina Khan speaks bad about Shilpa Shinde and disappoints yet again

    After that, Akash apologises to everyone. "It's the best show ever and I wanted to make sure that it keeps on getting good TRPs". But the one who made her intentions much clear on the premiere episode itself was Babiji Ghar Par Hai fame Shilpa Shinde .
    Sevilla interested in signing Chelsea forward in January

    Sevilla interested in signing Chelsea forward in January

    Especially as one of his strikers may be angling for a move away from Stamford Bridge for the rest of the season. As per Goal , Conte wants to sign a striker this month before Batshauyi can be loaned out.
  • Arctic Monkeys Announce First Live Date Of 2018

    Arctic Monkeys Announce First Live Date Of 2018

    Find out where Alex Turner and co. are playing this year, and where fans think they're headed next. Alex, 32, said in the same year the band were in, "no rush", to release another album.
    Gov. Pete Ricketts touts tax relief, economic growth

    Gov. Pete Ricketts touts tax relief, economic growth

    Ricketts praised lawmakers from both sides of the political aisle for their efforts a year ago to bring him "many great things". When state revenues reach certain benchmarks, triggers are in place to increase the amount of credits.
    Art, Style & Design! Gucci's Interactive

    Art, Style & Design! Gucci's Interactive "Gucci Garden" In Florence

    Bottura is the dynamic mastermind behind the three-Michelin-starred eatery Osteria Francescana in the Italian city of Modena. This coming together of fashion, culture and food is the brainchild of Alessandro Michele, the creative director of Gucci.


Most liked

OnePlus 5T gets Android 8.0 Oreo with OxygenOS Open Beta 1 update
The phones include OnePlus 3, OnePlus 3T , OnePlus 5 and now the new one, OnePlus 5T is on the line to receive the update. However, OnePlus confirmed soon after the 5T made it to market that the smartphone will eventually get Android Oreo .

Gal Gadot and Patty Jenkins Talk 'Totally Different' 'Wonder Woman' Sequel
Jenkins apparently tried to get Carter in the first Wonder Woman movie but was unable to make it work due to scheduling issues. Gal Gadot's Wonder Woman was one of the most successful films of 2017.

Game Changer: Kodak Plans to Launch KodakCoin Cryptocurrency on ICO
KODK has an EBITDA margin of 7.36%, this implies that the underlying business of SAVE is more profitable. (KODK) is 32.5 percent. You can get a sense of how sustainable that is by a levered free cash flow of -$101 Million over the past twelve months.

Saints get defensive against Carolina
Saints quarterback Drew Brees took a knee, and it was over. "I do believe I am the leader of this team and the team goes as I go". Obviously, the Saints will play with everything they have, but three players are going to be the X-factor in helping them win.

US President Trump ally Sheriff Joe Arpaio launches Senate bid
A year ago he was found guilty of criminal contempt after repeatedly ignoring a court order and faced up to six months in jail. Senate. "I'm not here to get my name in the paper, I get that every day, anyway", Arpaio told the newspaper.

Where is Ellen DeGeneres' house in Santa Barbara, California — Montecito mudslide MAP
The daytime TV host revealed the news of his death to her audience during The Ellen DeGeneres Show on Thursday (January 11). Some people have been trapped by the mudslides triggered by a combination of fire, wind, heavy rain and erosion.

Michigan State vs. Rutgers - 1/10/18 College Basketball Pick, Odds, and Prediction
MSU played fairly well for much of the first half before allowing the Buckeyes to make 18 of their last 26 shots in the game. Are you really that screwed up that you think we're just some powerhouse that can do all that? "We want to keep striding".

North Korean diplomats fear war with US
I just don't want to comment", adding that his attitude towards North Korea is intentional and part of a broader goal. Trump offered no details and asked whether he had spoken with Kim, said: "I don't want to comment on it.

Transgender Big Brother star Rebekah Shelton is NOT dead
One of the most loveable BB housemates. "You can't see what I've been through; you can't see my heart or feelings". This person can't accept the fact I'm happy, I overcame all my problems and I'm finally happy.

How Your Favorite Celebs Rang in 2018
Odds are you spent New Year's Eve binging Netflix while eating a full pizza, but that's not exactly how Selena Gomez rang in 2018. It's covered in quilted napa leather and bold color-blocking gives it a graphic feel that's as modern as it is timeless.

Sector Highlights- The Coca-Cola Company (NYSE:KO), DISH Network Corporation (NASDAQ:DISH)
The Coca-Cola accounts for approximately 0.6% of Prudential Financial Inc.'s portfolio, making the stock its 26th biggest holding. Currently, 0.77% of The Coca-Cola Company (NYSE:KO) are owned by insiders with 65.70% six-month change in the insider ownership.

Och-ziff Capital Management Group LLC (NYSE:OZM) Institutional Investors Quarterly Sentiment
Keefe Bruyette & Woods downgraded the shares of OZM in report on Wednesday, November 4 to "Market Perform" rating. Och-Ziff Capital Management Group LLC (NYSE: OZM ) has declined 36.39% since January 9, 2017 and is downtrending.

Leonard pours in 25 to carry Spurs over Knicks
But Ginobili started signaling actively, stopping the game, allowing the referees to look at the recording of the shot. The Knicks host the San Antonio Spurs on Tuesday, Jan. 2, 2018, at Madison Square Garden.

Windows 10 Fall Creators Update reaches final rollout phase
If you haven't yet updated, simply click the Update Now button on the Software Download Site to manually update your device. Make sure you apply the upgrade when you won't be needing to use your device for a short time.

Smartron tphone P with 5000mAh battery for Rs 7999
In conclusion, the t.phone P is a smartphone that has a mighty battery life and a design language that has been tried and tested. While the rear side features a 13MP sensor with support for LED Flash, the front-facing camera offers a 5MP sensor.