Crypto stock jumps 182% after Peter Thiel buys stake

Crypto stock jumps 182% after Peter Thiel buys stake originally appeared on TheStreet.

Peter Thiel, PayPal co-founder and billionaire tech investor, has acquired 7.5% ownership of Ethereum-focused digital asset treasury (DAT) firm 180 Life Sciences Corp.

Following the announcement, shares in the company jumped over 90% in early trading on Tuesday. At press time, 180 Life Sciences Corp (ATNF) is trading at $9.490, up 182%.

Thiel's investment was done through a 2005 American venture capital fund called Founders Fund Growth Management, according to a filing with the U.S. Securities and Exchange Commission(SEC).

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ETHZilla transitioned from a biotech focus to a DAT business model, disclosing it possesses 82,186 ether bought at an average price of $3,806.71 — approximately $349 million worth — with $238 million in cash equivalents.

Unlike Strategy, the first operation to transform public companies into accumulation vehicles for crypto, ETHZilla has taken one major feature right out of the playbook: leverage.

Incoming chairman McAndrew Rudisill told DL News at the beginning of 2022 that he would not over-leverage his firm's Ethereum purchases.

Michael Saylor of Strategy has raised billions via convertible debt in order to accumulate more Bitcoin Convertible debt investibles pay interest similar to a bond, with the option for holders to convert their investibles into shares of the company. While it can allow companies to amass a lot of assets, it carries risk.

For instance, many analysts have spoken publicly about Strategy's convertible debt that matures over 3 years, and if it cannot refinance its debt, it may have to sell Bitcoin to repay its debts, which could negatively affect market prices.

Separately, BitMine, in which Thiel is a 9.1% shareholder, increased its at-the-market equity program from $4.5 billion to $24.5 billion to help finance additional Ethereum acquisitions for its benefit.

At press time, Bitmine (BNMR) is trading at $65.12, nearly 10% up in the last 24 hours.

Crypto stock jumps 182% after Peter Thiel buys stake first appeared on TheStreet on Aug 12, 2025

This story was originally reported by TheStreet on Aug 12, 2025, where it first appeared.

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