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Bitcoin Gains on Report Peter Thiel Makes Bet on Cryptocurrency
Bitcoin is getting a boost from a report that billionaire Peter Thiel is making a big bet on cryptocurrency.
03 Jan 2018, 08:30 AM IST 
A bitcoin logo sits on a power unit supplying cryptocurrency mining machines. (Photographer: Andrey Rudakov/Bloomberg)
(Bloomberg) -- 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.
To contact the reporter on this story: Dave Liedtka in New York at dliedtka@bloomberg.net.
To contact the editor responsible for this story: Jeremy Herron at jherron8@bloomberg.net.
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