Epstein Documents Reveal Michael Saylor, Peter Thiel's Early Involvement with Bitcoin

The Epstein documents released on January 30 reveal deep connections with the early Bitcoin ecosystem. The documents show Epstein participated in Blockstream’s seed funding round, debated Bitcoin’s nature with Thiel, appeared on Saylor’s dinner guest list, and even attended private island gatherings with Fed Chair nominee Waller. While there is no evidence of illegal cryptocurrency use, it confirms his role as a network connector during Bitcoin’s early development.

How Epstein Penetrated the Early Bitcoin Circle

The most shocking discovery in the Epstein files is his close and surprising relationship with key figures in the Bitcoin ecosystem. These connections span from 2011 to 2017, a critical period when Bitcoin was transforming from a geek experiment into a global financial phenomenon. The documents include discussions on investments, philosophical commentary, and contacts with influential figures during Bitcoin’s rise.

As early as 2011, when Bitcoin was still under $30, Epstein was already paying attention to the technology. In an email, he called Bitcoin “great” but warned of “serious flaws.” This early interest shows he was not a passive observer but an astute investor actively tracking emerging technologies.

In 2013, he received a forwarded presentation analyzing Bitcoin’s viability as a payment system. These exchanges indicate he had been closely monitoring its potential long before cryptocurrencies entered mainstream markets. Epstein’s investment approach often focused on cutting-edge tech and academia, and Bitcoin clearly fit this pattern.

However, by August 31, 2017, when asked “Is buying Bitcoin worth it?” he simply replied: “No.” The brief response is intriguing. Bitcoin’s price had surged from $1,000 at the start of the year to $20,000 by year’s end. Epstein’s rejection suggests he was wary of bubble risks, perhaps thinking that entering near the peak was unwise.

Blockstream Investment and Ambitions for Islamic Finance

The most concrete evidence of Epstein’s cryptocurrency investments in the files comes from his participation in Blockstream’s seed funding. An email from 2014 reveals co-founder Austin Hill reaching out to Epstein, Ito J. (MIT Media Lab), and Dr. Adam Back (Bitcoin pioneer), to finalize the allocation of a $18 million oversubscribed funding round.

Hill wrote: “Our subscription is 10 times oversubscribed… Please increase your investment from $50,000 to $500,000.” Epstein had already confirmed he would invest through Ito’s fund. This is the first direct evidence in the Epstein files of his funding a major Bitcoin company. Blockstream is one of Bitcoin’s most important infrastructure firms, developing Lightning Network and sidechain tech, crucial for scalability.

Notably, Hill and Back were later included in email coordination for trips to St. Thomas (Epstein’s island hub). This pattern of extending from business relationships to private retreats exemplifies Epstein’s method of building influence networks. While no evidence suggests misconduct related to these trips, they demonstrate the depth of relationships.

More strikingly, in 2016 Epstein proposed a “radical” plan to a Saudi royal advisor involving two digital currencies, including an “Islamic law” cryptocurrency designed for Muslim countries. He wrote: “I’ve spoken with some of Bitcoin’s founders, and they are very excited.”

This Islamic finance project shows Epstein’s attempt to combine crypto tech with specific cultural and religious needs. Islamic finance has strict rules against interest (riba) and speculation, and a Sharia-compliant cryptocurrency could open a vast Muslim market. The Epstein files mention discussions with Austin Hill about this project, indicating it was more than just talk—there was technical team involvement.

Connections with Peter Thiel, Michael Saylor, and Waller

The most explosive part of the Epstein files is the series of contacts with prominent figures. In July 2014, Epstein engaged in in-depth discussions with billionaire investor Peter Thiel about Bitcoin’s definition. He wrote: “There is no consensus on what Bitcoin really is… a store of value, currency, or property… like a man dressed as a woman, smelling like property disguised as currency.”

Thiel had previously asked in the chain: “Do you think this is the first step to increasing anti-Bitcoin pressure?” This dialogue shows Epstein was well-versed in the ideological debates surrounding Bitcoin’s nature, even drawing an analogy to gender identity debates. This philosophical discussion indicates he was not only interested in investment returns but also in Bitcoin’s social implications.

Michael Saylor’s name also appears in Epstein’s documents, which is notable. In 2010, a message from PR professional Peggy Siegel mentioned Saylor, now known as Bitcoin’s outspoken corporate bull. She wrote: “Michael Saylor donated $25,000… Saylor is quite the character. He has no personality, like a drugged zombie.”

At that time, Saylor was attending a high-profile charity dinner, with no mention of Bitcoin. But this confirms that even before Saylor publicly identified with Bitcoin, he had social ties to Epstein. Saylor only began accumulating Bitcoin heavily in 2020, transforming MicroStrategy into a de facto Bitcoin investment vehicle, but his connection to Epstein predates that.

Key Cryptocurrency Figures in Epstein Files

Michael Saylor: Attended Epstein’s charity dinner in 2010; now CEO of MicroStrategy

Peter Thiel: Discussed Bitcoin’s nature with Epstein in 2014; co-founder of PayPal

Adam Back: Involved in Blockstream investment and island trips; Bitcoin pioneer

Austin Hill: Coordinated Blockstream funding; Epstein listed in seed round

Ito J.: Former director of MIT Media Lab; Epstein’s investment channel

Kevin Warsh: Appeared on Epstein’s private island guest list in 2010; nominated as Fed Chair

Among the most politically sensitive revelations is Kevin Warsh’s name appearing in Epstein’s documents. His name was on the invitation list for the 2010 New Year’s party on St. Barts, which included Roman Abramovich and Martha Stewart. Warsh, a former Federal Reserve governor, has publicly supported Bitcoin and central bank digital currency reforms. Just one day before the Epstein files were unsealed, Trump nominated him as Fed Chair. Although no allegations of misconduct exist, the timing raises questions.

No Criminal Evidence but a Deep Influence Network

Importantly, investigators found no cryptocurrency wallets, blockchain transactions, or criminal activity related to crypto in the Epstein files. The U.S. Department of Justice confirmed that, although many details remain unverified, there is no current evidence that Epstein used Bitcoin for money laundering or evasion. His role in crypto appears limited to high-level networking, occasional investments, and curiosity.

In another email from 2014, Hill warned Epstein, Ito, and Reid Hoffman (LinkedIn co-founder) that tensions in the crypto industry were escalating. He criticized Ripple’s Jed McCaleb for launching Stellar, stating: “Ripple and Jed’s new Stellar project are harmful to the ecosystem… Investors supporting these projects are damaging our company’s interests.”

This indicates Epstein was not just an investor but understood internal disagreements within the early blockchain community. Being included in such internal discussions suggests he was regarded as more than just a funder—he was seen as a strategic partner worth consulting.

The Epstein files do not show him as a secret crypto whale. But they reveal his connections to the early Bitcoin scene were closer than previously reported. He funded infrastructure projects, engaged in philosophical debates, and interacted with individuals now considered industry architects. In the crypto world, proximity often equals influence. These revelations in the Epstein files are significant—they show how an elite network was already forming during Bitcoin’s early days, even without criminal evidence.