Venture capitalist and technology investor Peter Thiel has acquired a 7.5% ownership stake in ETHZilla, causing a substantial increase in the company’s stock price.
The investment resulted in ETHZilla’s stock surging by 207%, closing at $10.24 following the announcement of Thiel’s stake acquisition. ETHZilla is formerly known as 180 Life Sciences, a company that has decisively shifted its business focus towards investments related to the Ethereum blockchain ecosystem.
This significant position taken by Thiel underscores his continued interest and active engagement within the cryptocurrency investment landscape. His involvement highlights the potential impact prominent investors can have on companies shifting their focus towards digital assets and related ventures, influencing market sentiment and related industries.
The move signals sustained confidence from influential figures in the evolving intersection of traditional finance and the cryptocurrency sector.