(OnBitcoin) Tim Draper,
a Silicon Valley venture capitalist, was the sole winner of the US
Marshal Bitcoin auction. Mr. Draper purchased all 30,000 BTC, outbidding
many other participants in the auction such as Barry Silbert’s
SecondMarket.
Draper is an investor in Vaurum, an exchange platform for financial institutions.
In a statement,
Vaurum founder Avish Bhama said that Draper’s new bitcoins will be used
to provide liquidity to emerging markets through Vaurum.
“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,” said Draper. “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.”
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