Billionaire investor Peter Thiel has acquired a 7.5% stake in 180 Life Sciences Corp, which is rebranding to ETHZilla and focusing on accumulating Ethereum.
Details of Peter Thiel's Investment
Thiel's investments through his Founders Fund entities now total approximately 11.6 million shares in ETHZilla, representing around 7.5% of outstanding stock. The company also disclosed holdings of 82,186 Ether valued at around $349 million purchased at an average price of $3,806.71.
Market Response and Company Changes
The market reacted quickly to news of Thiel's investment with ETHZilla shares more than tripling to a closing price of $10.24, marking a 207% increase from the previous close. The company has also raised $425 million through private placement to support its Ethereum strategy.
Trends in Corporate Ethereum Investment
Thiel's investment in ETHZilla highlights the growing interest of institutional investors in direct exposure to digital assets, with corporations considering converting cash reserves into cryptocurrencies and earning additional income through staking mechanisms.
Peter Thiel's consecutive investments in ETHZilla and BitMine signal strong confidence in the long-term prospects of Ethereum, despite short-term market volatility. Both companies plan to continue accumulating their Ethereum assets in the future.
