ETHZilla Ethereum Treasury Stock Skyrockets After Peter Thiel Buys Stake

Tech billionaire Peter Thiel supports an Ethereum Treasury company -and the shares of the company have tripled in the development.

According to a recent sec submitThiel and related entities that he manages has purchased a 7.5% interest in 180 Life Sciences, a biotech company that once focused on investigating inflammatory diseases that recently played for Ethereum and renowned To “Ethzilla.”

After the word Van Thiel’s investment was circulating on Tuesday, the shares of the company exploded, more than tripled in value in a matter of hours. It closed the day on $ 10.24, an increase of almost 207% compared to its close at $ 3.34 on Monday afternoon.

Only a few weeks ago, Thiel and the risk capital company bought a co-founder, Founders Fund, a 9.1% interest in another listed company that has completely discussed buying as much Ethereum as possible: Bitmine.

That company, which was previously aimed at Bitcoin mining, has now collected more than $ 5 billion in ETH and is planning to collect more than $ 20 billion to grow that leading stock.

Thiel and his venture funds have been deeply involved in crypto for years and have supported countless blockchain companies, ranging from centralized fairs, including Bullish And Bitpandato whole networks such as Ethereum Layer-2 Low -nto prediction market Polymarket.

Thiel, a co-founder of PayPal and Palantir, has long been an important financier of extreme right-wing wing-political candidates and has played a crucial role in shaping the technological policy of current Trump administration.

It was Thiel who first entered Vice President JD Vance, one of his former employees, for Trump in 2021. Thiel’s old friend and business partner, David Sacks, Currently serves as AI and Crypto Tsar of the President; Michael Kratsios, the former Staff Chef of Thiel, leads the Office of Science and Technology of the White House.

Since January, the second Trump administration has pursued aggressive policy rules for the crypto industry, including those that have speeded up the integration of digital assets with traditional financial markets.

A executive order Last week signed by the President, for example, green illuminates the possibility for 401 (K) accounts to get exposure to cryptocurrencies. In particular, they allowed them to invest in actively managed investment vehicles that invest in digital assets.

Thiel’s interest in Ethereum and his co-founder Vitalik Buterin extends more than a decade, while Founders Fund Buterin granted a $ 100,000 subsidy in 2014, making the development on the protocol possible.