Billionaire Peter Thiel And Bitmain Are Lead Investment Round In Block.one

Billionaire Peter Thiel along with bitcoin mining giant Bitmain play a significant role in a star-studded investment round for Block.one, the developer of the EOS cryptocurrency.

On Monday, Block.one announced the conclusion of the funding round, ye the company did not disclose its size or at what valuation it was done.

Anyway, the offering enticed a cadre of high-profile investors.

Thiel, a PayPal co-founder and hedge fund manager, is a bitcoin bull, although, in public statements, he has been less confident about the future of other cryptocurrencies.

Bitmain, the world’s largest producer of cryptocurrency mining hardware, is at least three times the joint size of its competitors, several of whom are themselves trusted to be worth over $1 billion.

Other investors included hedge fund billionaire Alan Howard, who initially invested in cryptocurrencies earlier this year and has since made a “sizable” bet on the emerging sector, including Louis Bacon, founder of Moore Capital Management.

“As Block.one prepares to announce its future plans, we’re excited to welcome key strategic investors aligned with our values of creating a more secure and connected world,” said Block.one CEO Brendan Blumer, who was mum on what those “future plans” involve.

The funding round served as the second time that Block.one has made a profit through traditional means. An earlier funding round attracted investments from Galaxy Digital founder Mike Novogratz, Apeiron Investment Group founder Christian Angermayer, and Lansdowne Investment Company.

The stance to search outside has raised concerns because Block.one made over $4 billion in the year-long EOS initial coin offering (ICO), making it the highest-grossing token sale to date.