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🔥 Bitcoin $50K again: fresh trend or another pump?⠀
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From August to November, Founders Fund, Peter Thiel's venture capital firm, invested $200 million in BTC and ETH (50/50) – just before the start of a new rally. Does Peter know the secret? Or are "whales" like him creating crypto rallies?⠀
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This has already happened: in 2022, the purchase of major tokens was considered the hottest investment strategy, but the subsequent collapse (BTC fell to $15,000) hit not only the pockets of investors but also the reputation of the crypto industry.⠀
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Peter Thiel, co-founder of PayPal and Palantir, is an active supporter of Bitcoin – his interest in crypto fits perfectly with the billionaire's personal libertarianism. Founders Fund, known for its early bets on companies like SpaceX, began aggressively buying BTC back in 2014 but managed to close positions in time in 2022, with a profit of more than about $1.8 billion.⠀
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Now the fund bought Bitcoin below $30,000 – Thiel was clearly confident that there would be a bullish trend.⠀
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Analysts are trying to convince us that the wave of optimism continues after the launch of spot ETFs, but statistics show that over the past week, investors, on the contrary, have withdrawn more than $0.5 billion from these new assets. And none of the short-term technical forecasts can clearly say who and for what purposes one buy Bitcoin, and the fundamental background is too multifactorial and unstable.⠀
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So far, large hedge funds are just exploring the idea of including crypto ETFs in their regular portfolios, and such a speculative price clearly does not suit them.⠀
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Perhaps we should keep an eye on the likes of Peter Thiel to catch the moment when this political "white noise" subsides and Bitcoin can be dropped to more adequate levels. And take your piece of profit.⠀
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And what do you think?⠀
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Profits to y’all!⠀