Peter Thiel | Crypto

Michael Saylor’s Bitcoin fortress faces Peter Thiel’s Ether agility. Two giants, two treasuries — who’s making the smarter bet? Peter Thiel has quietly established a large footprint in crypto treasuries by backing companies that invest in Ethereum. This approach gives him significant indirect exposure to the cryptocurrency’s growth while staying aligned with his broader venture capital strategy. Peter Thiel, best known as the co-founder of PayPal and Palantir, approaches crypto exposure through an indirect path. Instead of simply buying Ether (ETH) on balance sheets like Saylor does with Bitcoin (BTC), Thiel’s play is to take significant stakes in companies that transform themselves into Ether-treasury vehicles. This method gives him exposure to ETH’s upside while embedding his capital in firms that can rally markets. Read more

Tech billionaires Peter Thiel and Michael Saylor have different approaches to crypto, which are reflected in how they invest in the space. Tech billionaires Peter Thiel and Michael Saylor are establishing crypto company treasuries, but some financial observers note that their strategies could pose significant risk. Both Thiel and Saylor have poured substantial capital into cryptocurrencies through their respective firms and investment vehicles: Saylor, with his software firm Strategy’s frequent Bitcoin (BTC) buys, and Thiel, through venture capital investments in crypto firms, and his exchange, Bullish, which went public earlier in August.  Each is not only seeking to expand his holdings but also how the cryptocurrency industry is shaped and regulated. But there are still significant differences in their respective strategies and outlooks regarding crypto, and companies that decided to form crypto treasuries could be inviting a “death spiral” when prices crash.  Read more

Peter Thiel and other billionaires are planning Erebor, a new bank to fill the void left by Silicon Valley Bank’s collapse — with crypto firms and startups in focus. Peter Thiel and other tech billionaires have reportedly spotted a major market opportunity in the void left by Silicon Valley Bank’s (SVB) 2023 collapse. They are now planning to launch a new financial institution — named after a Lord of the Rings reference — to serve crypto companies and startups that have struggled to secure financing since SVB’s downfall. SVB’s dramatic collapse in 2023 triggered contagion across the US banking sector and led to tighter lending standards. While its assets were later acquired by First Citizens Bank, no institution has stepped in to fill SVB’s unique role — until now.  For context: Before its collapse, SVB banked nearly half of all venture-backed technology and life sciences companies in the United States. Read more

Before its collapse, Silicon Valley Bank had deep ties to crypto companies and venture capital funds investing in the industry. A group of billionaires, including Peter Thiel, is reportedly planning to launch a new financial services firm to fill the gap left by the collapse of Silicon Valley Bank in March 2023. The new bank, to be called Erebor, will focus on serving startups and cryptocurrency companies, according to the Financial Times, which cited anonymous sources familiar with the plans. The project has applied for a US bank charter, which allows financial institutions to operate as a bank. Thiel’s venture fund, Founders Fund, is among the bank’s early investors. In addition to Thiel, the group reportedly includes Palmer Luckey, co-founder of defense contractor Anduril, and Joe Lonsdale, founder of 8VC. Read more

Peter Thiel is backing a new US bank, Erebor, launched by tech billionaires to serve start-ups and crypto firms left adrift after Silicon Valley Bank’s 2023 collapse. The post Peter Thiel, Tech Billionaires Back New Bank for Start-ups, Erebor, After SVB Collapse: Report appeared first on Cryptonews.