$ETH # Billionaire Peter Thiel Increases Stake in Ethereum! Biotech Company Transforms into "Ethereum Vault", Stock Price Soars 55% Overnight
In simple terms:
1. Big Shot Steps In: Silicon Valley billionaire Peter Thiel (co-founder of PayPal) invested in a company that holds a large amount of Ethereum — ETHZilla (formerly the biotech company 180 Life Sciences), acquiring a 7.5% stake.
2. Company Transformation: This company originally researched biomedicine but is now transforming into an "Ethereum Vault", planning to use the financing to buy Ethereum and income-generating assets while developing online business.
3. Market Reaction: Once the news broke, the company's stock price surged 11% in a single day, and it briefly skyrocketed 55% after hours! Previously, it had raised nearly $600 million through bond issuance and private placements.
Background Information:
- Peter Thiel is a long-time supporter of cryptocurrency, having just invested in another crypto company, BitMine (holding 9.1%).
- ETHZilla's transformation indicates that traditional companies are trying to attract funds and attention by holding cryptocurrencies (like Ethereum).
