VC Tim Draper Revealed as Silk Road Bitcoin Auction Winner
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 nearly 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. In the post authored by Vaurum CEO Avish Bhama, the company announced that Draper intends to partner with Vaurum to use the roughly....
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Two-time auction winner Tim Draper has revealed to CoinDesk that he is not participating in today's auction of more than 44,000 BTC confiscated from convicted Silk Road operator Ross Ulbricht. The venture capitalist and Draper Fisher Jurvetson (DFJ) partner was the sole winner of the first US government auction of nearly 30,000 BTC (then valued at roughly $18m) held last July, again purchasing 2,000 BTC (worth $750,000) in an auction of 50,000 BTC held in December 2014. Though short in his remarks, Draper told CoinDesk that he "didn't participate" in today's auction, which is scheduled to....
Venture capitalist Tim Draper has been revealed as the winner of last Friday's USMS bitcoin auction. The US Marshals Service (USMS) has announced that a single, undisclosed bidder claimed all of the roughly 30,000 bitcoins seized from online black market Silk Road and sold in its recent auction. The winning bidder outbid all other parties for the 10 auction blocks, according to the USMS. Further, the bitcoins have already been transferred to the winner, according to Blockchain. The USMS previously said that it would begin notifying bidders as to whether they had secured any of the blocks....
Last week's US government auction of confiscated Silk Road bitcoins has left a lingering mystery: who won the two biggest blocks of 27,000 and 20,000 coins? The winners of the two previous US Marshals Service (USMS) bitcoin auctions always wound up announcing themselves within days of their successful bids. The first auction winner was, famously, venture capitalist Tim Draper, who claimed all the 30,000 bitcoins for sale. The second auction saw the lion's share go to a syndicate organised by Bitcoin Investment Trust, although Draper again picked up some coins. The third and most recent....
Investor Tim Draper is at it again when it comes to getting his hands on bitcoin. If tens of thousands of those coins that he managed to acquire during the Silk Road bitcoin auction earlier this year wasn't enough, he's acquired even more. This week, the United States Marshals Service held their second bitcoin auction (again, from the Silk Road seizures), and Draper managed to pick up an extra 2,000 bitcoins from the pot of 50,000 that were made available. Speaking to the New York Times, Mr. Draper said that "I will have to buy some more Bitcoin on the open market to fulfill my commitment....
Well, ladies and gentlemen, the moment has arrived. The third US Marshals Service Silk Road bitcoin auction has come and gone, and many are wondering what the outcome will be. Unfortunately for us, that news is not being released until tomorrow on Friday, so until then we'll have to keep our anticipation in check and make sure we don't start sweating bullets wondering about what has occurred. The auction began at 8 AM Eastern Standard Time, and ceased about six hours later at 2 PM, and tomorrow, someone will go home much richer with about 50,000 of alleged drug kingpin Ross Ulbricht's....