đ ETH Zilla Stock Skyrockets After Peter Thielâs Bold Move đ
ETHZilla shares exploded by 207% in Tuesdayâs trading after billionaire investor Peter Thiel acquired a 7.5% stake in the company. The surge reflects massive investor excitement following the tech mogulâs backing of the newly rebranded biotech firm â now pivoting to focus on Ethereum ($ETH) treasury accumulation strategies.
đ The stock closed at $10.24, a huge leap from Mondayâs $3.34, as institutional interest in crypto-treasury models gains momentum.
Thiel, along with Founders Fund, also holds 9.1% of BitMine Immersion Technologies, a company boasting over $5 billion in Ethereum holdings. This move further cements his long-standing presence in the crypto space, which includes investments in exchanges, layer-2 scaling solutions, and other blockchain ventures.
đ Beyond business, Thielâs network stretches into U.S. politics. Vice President JD Vance, once a Thiel employee, serves in the Trump administration. Former PayPal COO David Sacks is now Trumpâs AI and crypto policy lead, while Michael Kratsios, Thielâs former chief of staff, heads the White House Office of Science and Technology.
đĄ Thielâs crypto roots run deep â back in 2014, Founders Fund granted Vitalik Buterin $100,000 to support Ethereumâs development. ETHZillaâs transformation underscores a growing trend: traditional companies adopting cryptocurrency as a core treasury asset.
