Cryptocurrencies spike after report of Founders Fund’s bitcoin wager

Founders Fund bought $15 million to $20 million worth of bitcoin across several of its most recent funds, and that investment has ballooned to hundreds of millions of dollars, the Wall Street Journal reported on Tuesday.

Cryptocurrency prices saw a boost in the wake of the news, with 21 of the top 25 digital currencies climbing on Tuesday afternoon, according to

It is unknown whether Founders Fund has sold any of its holdings. The firm did not immediately respond to VCJ’s request for comment.

Photo of bitcoins on one dollar bills courtesy of Reuters/Dado Ruvic