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Axios Jan 3
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Peter Thiel bets big on bitcoin

Venture capitalist Peter Thiel's Founder Fund has made a major bet on bitcoin. Photo: Chip Somodevilla / Getty Images

"One of the biggest names in Silicon Valley is placing a moonshot bet on bitcoin," the Wall Street Journal's Rob Copeland writes: "Founders Fund, the venture-capital firm co-founded by Peter Thiel, has amassed hundreds of millions of dollars of the volatile cryptocurrency."

Why it matters: "Relatively few mainstream investors have bought large sums of bitcoin, scared off by concerns about cybersecurity and liquidity, as well as more mundane fears of investment losses."