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Peter Thiel Quietly Bets Big on Ethereum
Peter Thiel has acquired a 7.5% stake in ETHZilla, the newly rebranded version of biotech firm 180 Life Sciences, which has pivoted to become an Ethereum treasury vehicle. The company raised $425M through a PIPE deal to accumulate ETH and position itself as a public proxy for Ethereum exposure.
This move follows Thiel and Founders Fund’s earlier acquisition of a 9.1% stake in BitMine, chaired by Tom Lee (Fundstrat). BitMine currently holds over $5B in ETH and is planning to raise an additional $20B to expand its position.
Thiel’s interest in Ethereum is not new. In 2014, he provided Vitalik Buterin with $100,000 in early-stage support through the Thiel Fellowship. Since then, his crypto investments have included Bullish, Bitpanda, Ethereum Layer 2 network Layer N, and prediction market Polymarket.
Taken together, these positions signal a broader strategic bet: Ethereum is not just a technology platform—it’s becoming an institutional-grade treasury asset. Thiel appears to be front-running this shift.