Tim Draper wins just one block of 2000 BTC in latest auction, winnings to fund Boost VC Graduates

CoinDesk reports that avid Bitcoiner and venture capitalist Tim Draper has won just one block (2000 BTC) of the 50,000

CoinDesk reports that avid Bitcoiner and venture capitalist Tim Draper has won just one block (2000 BTC) of the 50,000 bitcoins being auctioned off by the US Marshals Service. The auction is one of several for the reported stash of 144,000 BTC seized from accused Silk Road operator Ross Ulbricht.

Draper was the winner of all 29,656 BTC in the last auction, which was for the bitcoins seized from Silk Road’s servers.

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Draper is the founder of the venture capital firm Draper Fisher Jurvetson.

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With the winnings, he will provide 300 BTC to each startup graduating from Boost VC, an accelerator founded by his son, Adam Draper. In funding with bitcoins, Draper explained: “The interesting part is that we are fixing the valuation. The 300 BTC are worth about $120,000 today, but may be worth quite a bit more, or less, when the entrepreneurs receive them.”

Similarly, Draper said after winning the summer auction that his winnings will go to supporting Bitcoin exchange Mirror, helping it serve more global customers.

Also, this time around, Draper has not disclosed the amount he paid.

 

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