ETHZilla shares soar after Peter Thiel purchases stake

Shares of ETHZilla, formerly 180 Life Sciences, have more than tripled in just one day after news broke that tech billionaire Peter Thiel and related funds acquired a 7.5% stake in the company.

Billionaire Peter Thiel makes a big bet on Ethereum

#ETHZilla , a biotechnology company that has pivoted to accumulating Ethereum (ETH), is the second ETH treasury company that Peter Thiel has invested in over the past few weeks. Previously, he and the venture capital fund Founders Fund also purchased a 9.1% stake in BitMine, a Bitcoin mining company that has transitioned to accumulating ETH. BitMine is currently holding number $ETH worth over $5 billion and plans to raise an additional $20 billion to strengthen this treasury.

The impact of policy and support from the elite

Peter Thiel, co-founder of #Paypal and Palantir, has been deeply involved in the cryptocurrency industry for many years, backing numerous blockchain projects. His support for ETH treasury companies, along with the cryptocurrency-friendly policies of the Trump administration, is creating a strong momentum for the market.

For example, a recent presidential decree allows 401(k) retirement accounts to access cryptocurrency, promoting the integration of digital assets into traditional financial markets. #anh_ba_cong