The US-listed mining company BitMine has attracted widespread attention in the market for becoming the world's largest enterprise-level Ethereum holder. With the disclosure of on-chain data, a new round of discussions has emerged regarding the role and impact of institutions in crypto asset allocation. Beyond Tom Lee, the chairman of the BitMine board who is always in the media spotlight promoting ETH, another name has been frequently mentioned behind this heat—Peter Thiel. As one of Silicon Valley's most controversial and forward-looking investors, Thiel showed interest in Bitcoin and the potential of decentralization early on and has made multiple bets in the crypto industry through his fund. Thiel's investment trajectory not only reflects his judgment on future technological trends but has also, to some extent, shaped today's crypto market landscape.

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