Legendary VC Tim Draper has announced he won each of the nearly 30,000 Bitcoins the government auctioned off Friday.
In a post on Medium.com, Vaurum, a Bitcoin exchange, said Draper was partnering with it to “provide bitcoin liquidity in emerging markets.”
Draper’s investments have included Skype, Hotmail, Tesla, Baidu, Theranos, Athenahealth, Solar City, Box.
Here’s Draper’s statement:
Bitcoin frees people from trying to operate in a modern market economy with weak currencies. 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.
Of course, no one is totally secure in holding their own country’s currency. We want to enable people to hold and trade bitcoin to secure themselves against weakening currencies.”
Prices were hovering around $US640.