Business

Silicon Valley smart guy bets big on bitcoin

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** OTC-traded Bitcoin Investment Trust GBTC.PK up 13.5 pct at $2387.70 after WSJ reported Peter Thiel's Founders Fund "amassed hundreds of millions of dollars" worth bitcoins (http://on.wsj.com/2EA1mLo) ** Founders bought about $15-$20 mln worth bitcoins, now worth hundreds of millions of dollars after bitcoin's rally in the past year, according to the WSJ report, citing people familiar with the matter ** Bitcoin Investment Trust allows investors to take a bet on the price of bitcoin without complication of buying and safeguarding them directly ** Bitcoin rose above $15,000 to trade at $15,017.63 (Full Story) ** The crypto-currency has surged more than 15 times in value over the last 12 months on the back of enthusiasm from retail investors and launch of bitcoin futures (Full Story)