Pioneering venture capitalist Tim Draper, father of noted bitcoin industry VC Adam Draper and managing director of the VC firm Draper Fisher Jurvetson, has been revealed as the winner of last Friday’s US Marshals auction of 30,000 BTC.
The announcement was released via a blog post on Medium issued by California-based bitcoin trading and storage startup Vaurum. Draper was previously named as an investor in the company’s $4m seed funding round this May, along with AOL CEO Steve Case and others.
In the post authored by Vaurum CEO Avish Bhama, the company announced that Draper intends to partner with Vaurum to use the roughly 30,000 BTC to provide bitcoin liquidity in emerging markets.
Draper said:
“With the help of Vaurum and this newly purchased bitcoin, we expect to be able to create new services that can provide liquidity and confidence to markets that have been hamstrung by weak currencies.”
The news follows the US Marshals 1st July announcement that one unnamed bidder had claimed all 10 of the auction blocks.
investorsSilk RoadStartupsTim DraperUS Marshals Service
Original author: Pete Rizzo
