When Bitcoin Falls, So Does The Rest Of The Cryptocurrency Market
Bitcoin lost a third of its value within 24 hours, and that could be bad news for the entire cryptocurrency market.
LEARN MOREPeter Thiel's Venture Capital Company Is Apparently Big Into Bitcoin
A Wall Street Journal report says Peter Thiel's company spent millions to buy bitcoin before the cryptocurrency's recent boom.
Peter Thiel's Venture Capital Company Is Apparently Big Into Bitcoin
Getty Images
January 2, 2018
Bitcoin got a bit of a new year bump thanks in part to Silicon Valley venture capitalist Peter Thiel.
According to The Wall Street Journal, Thiel's VC company Founders Fund spent around $15 to $20 million in the past buying bitcoin. The Journal says the company claims its investment is now worth hundreds of millions of dollars.
Bitcoin's actual value has skyrocketed in recent months, but it's still pretty unstable. The Journal's report may have prompted Bitcoin prices to jump up about $1,000 — it was hovering at close to $15,000 later in the day.
But despite the volatility, Thiel's fund seems to find Bitcoin a more promising bet than its stated purpose of investing that money in startups.
3:11
Exxon reports record profits on heels of Chevron
Critics say both inside and out of government those margins ought to renew interest in a windfall profits tax on big oil.
By Matt Brown / AP3:27
The US is facing a critical shortage of high tech engineers
According to the U.S. Bureau of Labor Statistics, between 2016 and 2026 there has been and will be a shortfall of six million engineers, or more.
By Scripps NewsBoeing bids farewell to an icon, delivers last 747 jumbo jet
Since 1969, the 747 has served as a cargo plane, a commercial aircraft capable of carrying nearly 500, and the Air Force One presidential aircraft.
By Jennifer Buchanan / The Seattle Times / APTop Stories
5:04
What does it cost to have cancer?
An oncologist and parents of kids with cancer share how the costs of treatment can hinder or even completely prevent a patient from getting care.
By San Francisco Chronicle / AP6:35
Life-saving drugs costs thousands in the US. Can laws change that?
Prescription drugs are often priced higher in the U.S. than in other countries, but some legislation is trying to cut costs.
By AP3:08
Meet Hal, a robot helping future nurses treat patients in real time
Nursing students are using artificial intelligence and robots to train for real life patients' symptoms and concerns.
By Scripps News