Peter Kraus Breaks Silence on 'Bachelor' Decision in Emotional Message on 'the Most Incredible Journey'

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Peter Kraus is finally opening up about Thursday's big Bachelor announcement. 

The former Bachelor frontrunner shared an emotional message on Instagram just hours after Arie Luyendyk Jr. was announced as the franchise's next lead. 

EXCLUSIVE: Why Peter Kraus Didn't Become the Next Bachelor

"#tbt to the most incredible journey of this life time that has now officially come to an end today," Kraus began his thoughtful note. "As I sit here writing this, I struggle to hold back the tears as I am overcome with emotion one last time."

"First and foremost.. @therachlindsay , there are so very many things that I've wished I could say to you since the day we parted ways in Spain, but for everyone's sake, I'll keep it short... You gave me a chance and all that I can say is thank you," he said to Lindsay, who ended up picking Bryan Abasolo in the season finale of The Bachelorette after Kraus refused to propose. "I have a heart filled with love for you now and always and wish you nothing but the best in your life and love ahead."

"ABC, you saw something in me, but something held me back. You treated me with such love and kindness and showed me glimpses of a life I never once dreamed that I could have," Kraus continued. "I will be forever humbled and grateful and will always look back at these last 6 months with an ear to ear smile, knowing that this has truly been a very special life indeed."

"Upon leaving the @bacheloretteabc I was asked, 'what did you learn, about yourself during this process?' And at the time I naively said 'nothing that I can think of.' Now... looking back... I realize I learned one of the single greatest teachings of my life; When you let uncertainty or fear guide your decisions, you risk missing out on what could potentially be the greatest opportunity of a life time," he shared. "So live dangerously, live without the fear of the unknown, and continue to live and love with a heart that is truly open to anything. #thankyou #lovealways."

EXCLUSIVE: Arie Luyendyk Jr. Was Asked to Be 'The Bachelor' Before: 'He Didn't Want to Be Embarrassed Again'

While fans were shocked that Luyendyk Jr. was announced as the Bachelor, after placing as Emily Maynard's runner up on The Bachelorette in 2012,  a source tells ET that Kraus just didn't have a "major desire" to be the Bachelor. 

"Peter wasn't in this for fame or fortune," another source adds. "He wouldn't have been the Bachelor just for a platform, and his stance hadn't really changed when it came to an engagement." 

Kraus seemed to be a very likely candidate even earlier this week. See more in the video below.