Bitcoin Gains on Report Peter Thiel Makes Bet on Cryptocurrency

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Bitcoin is getting a boost from a report that billionaire Peter Thiel is making a big bet on cryptocurrency.

Founders Fund, the venture-capital firm co-founded by Thiel, has amassed hundreds of millions of dollars of bitcoin, the Wall Street Journal reported Tuesday, citing unnamed people familiar with the matter.

Bitcoin rose as much as 8.6 percent to $14,797, according to prices compiled on Bloomberg.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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