Bitcoin rose more than 13.5 percent to about $15,017 amid reports Founders Fund, a firm co-founded by Peter Thiel, bought millions of dollars worth of the volatile cryptocurrency, CNBC reports.
Here are three things to know about the investment.
1. Founders Fund's purchase, first reported by The Wall Street Journal, has amassed hundreds of millions of dollars in bitcoin. The investment was spread across many of the firm's recent funds. One fund began investing in mid-2017.
2. Founders Fund initially bought approximately $15 million to $20 million of bitcoin. Those investments are worth hundreds of millions of dollars after bitcoin's surge last year, WSJ reported. It is unclear if the firm has sold any of its holdings.
3. Not many mainstream investors have purchased large amounts of the cryptocurrency.