USMS Auction Winner Tim Draper Discussed Bitcoin at Conference in California

An investor and the winner of almost all bitcoins at the US Marshals Service auction Tim Draper, conducted a conference in San Mateo where he spoke about his plans in the cryptocurrency ecosystem.

Photo: JD Lasica/Flickr

Photo: JD Lasica/Flickr

An American venture capital investor Tim Draper, a founder of Draper Fisher Jurvetson company and the winning bidder at the US Marshals Service auction on 27th of June, has recently held a press conference where he talked about the bitcoin and the future plans concerning the digital currency.

The conference started with introductory speech from Tim Draper and included a question-and-answer session conducted by his son Adam Draper and Avish Bhama, CEO of bitcoin startup Vaurum.

Speaking about the virtual currency, Draper noted that he project to continue investing in bitcoin startups. He said: “I am so enthusiastic about bitcoin, I know that our next fund is going to have a very high concentration of bitcoin companies, we have a high focus on [financial innovation].”

Draper also indicated that he is now not worried about the safety of the digital money. “All I know is this money is more secure than the money that is in my investment bank,” he said.

Tim Draper mentioned certain bitcoin projects that provide new vision for the world economy, among others Coincove, a Mexican financial services firm, Korbit, bitcoin exchange based in Korea and BitPagos, with headquarters in Argentina.

Draper agreed with the idea, expressed by Avish Bhama, that the cryptocurrency is volatile a US construct.

He stated: “We really think that this is a big opportunity and clearly there is a lot of interest all over the world for people to look and see a new kind of currency, something that is not tied to political nations that are out there.”

Still, Bitcoin was recently criticized by global regulators, who warned the users about the possible risks that come from the cryptocurrency and its price fluctuations.

Tim Draper invested in Korbit and BitPagos, whilst Adam Draper is an investor in Coincove.

During the conferecnce, Draper pointed out that bitcoin is a great investment opportunity. Besides, he encouraged the audience to enter the bitcoin market and the digital currency segment. Draper thanked original investor Satoshi Nakamoto for creating an “amazing trading system”.

“I think the world should, as soon as you possibly can, take advantage of bitcoin. […] We are all going to be so much better off because of this,” he said.

Still, Draper did not provid any details concerning the sum he paid for the bitcoins. He just noted: “I paid more than the other people in the auction.”

The press conference was held in San Mateo in California and was also aired on the web via Livestream.

The news comes just after the recent announcement that the unknown bidder won all bitcoin blocks at the USMS auction on Friday.

Draper started to support the digital currency last year when he announced that his university in Silicon Valley Draper University of Heroes would integrate bitcoin. In addition, he then invested in Varuum bitcoin firm.


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