Tim Draper, Venture Capitalist, Wins Government Bitcoin Auction

Finally, the winner was revealed.

Tim Draper a venture capitalist from Silicon Valley, was the only winner of Marshal Bitcoin's auction. Mr. Draper bought all 30,000 BTCs, outbidding many other auction participants, such as Barry Silbert's SecondMarket.

Draper is an investor in Vaurum an exchange platform for financial institutions.

 Tim Draper "width =" 400 "height =" 500 "/> <noscript> <img class= Vaurum founder Avish Bhama said that Draper's new bitcoins would be used to provide liquidity to emerging markets via Vaurum.

"Bitcoin frees people from trying to operate in a modern market economy with weak currencies.With the help of Vaurum and this newly acquired bitcoin, we hope to be able to create new services capable of providing liquidity and confidence to markets that have been paralyzed by weak currencies, "said Draper. "Of course, no one is completely sure of owning the currency of their own country.We want to allow people to hold and exchange bitcoins to hedge against weakened currencies."

Bhama added:

Vaurum has launched emerging market trading platforms, and we will work with Tim to leverage the ~ 30,000 + bitcoins pool as a source of liquidity. It's still pretty hard to get access to Bitcoin in these developing countries – and that's exactly what we need most. Our goal is to build reliable infrastructure and increase liquidity, two major challenges in the ecosystem.

Related Posts

Create Account

Log In Your Account