tl;dr
Tech billionaire Peter Thiel has acquired a 7.5% stake in 180 Life Sciences, now rebranded as ETHZilla, which focuses on stockpiling Ethereum, causing its stock to surge over 200%. Previously, Thiel's Founders Fund bought a 9.1% stake in BitMine, a company shifting from Bitcoin mining to building a ...
Tech billionaire Peter Thiel has made headlines again by investing in another Ethereum treasury company, significantly impacting its stock price. According to a recent SEC filing, Thiel and his managed entities acquired a 7.5% stake in 180 Life Sciences, a biotech firm that recently shifted focus to stockpiling Ethereum and rebranded as “ETHZilla.” This announcement sparked a dramatic surge in the company’s stock, which more than tripled in value within hours, closing at $10.24—up nearly 207% from $3.34 just the day before.
This isn’t Thiel’s first move into Ethereum-focused companies. Weeks earlier, he and his venture capital firm, Founders Fund, purchased a 9.1% stake in BitMine, a publicly traded company pivoting from Bitcoin mining towards amassing one of the largest Ethereum holdings, valued over $5 billion. BitMine plans to raise upwards of $20 billion to expand its Ethereum treasury.
Thiel’s engagement with cryptocurrency extends well beyond these investments. He has backed numerous blockchain projects, including centralized exchanges like Bullish and Bitpanda, Ethereum layer-2 networks such as Layer N, and prediction market platforms like Polymarket. As a PayPal and Palantir co-founder, Thiel has also played a pivotal role in shaping crypto-friendly policies within the Trump administration.
His political influence is notable: Thiel introduced Vice President JD Vance to Donald Trump in 2021. His close associates occupy influential government positions—David Sacks serves as the AI and crypto czar, and Michael Kratsios heads the White House Office of Science and Technology. The current administration has aggressively promoted crypto integration into traditional finance, exemplified by a recent executive order allowing 401(k) plans to invest in actively managed vehicles that include digital assets.
Thiel’s connection to Ethereum and its co-founder Vitalik Buterin dates back over a decade, with Founders Fund providing Buterin a crucial $100,000 grant in 2014, accelerating development of the Ethereum protocol. This blend of financial backing, political clout, and visionary support underscores Thiel’s influential role in the evolving landscape of cryptocurrency investment and policy.