Tim Draper spent $18 million to buy his first bitcoin, how much is it worth?

Reprinted from 100 Author: finance field

If someone asks fanatical crypto currency enthusiasts, who will you think of? Most encryption currency investors may first think of is Mike Novogratz, Winklevoss Twin and Tim Draper. This is also a reason, because these people here mentioned have spent a lot of time and money.

In order to celebrate the birth of bitcoin 10th anniversary, the world famous American venture capitalist Tim Draper wrote a column for a recent project Coindesk. Tim Draper pointed out that the crypto currency is very attractive, 15 years ago he saw the value of digital currency.

However, until 2011, the chief executive of Coinlab Peter Vincennes to meet with Tim Draper, it is this meeting, Tim Draper bitcoin, so a feasible digital assets appear in the Tim Draper view. Vincennes and Drape hit it off, they buy $250 thousand worth of BTC in Mt. Gox. Tim Draper for his investment is very satisfactory, but the weather is unpredictable, Mt. Gox went bankrupt, so Tim Draper lost his thousands of bitcoin.

But then, Tim Draper has won the opportunity to purchase encrypted currency, then U.S.Marshall ‘s Office auction nearly 30 thousand bitcoin. The encrypted currency enthusiast Mt. Gox make the decision to participate in the auction of confused and disoriented, and finally to $632 per purchase price of 29656 gold coins, than the current rate of $14 stock exchange. In short, he spent $18 million 740 thousand on bitcoin.

From that day on, he crypto currency and related technology is too optimistic. This is not surprising, especially considering his strong vested interest. However, many people have put him in the asset class, the permanent support seems to be seen as a positive signal.

Since the encryption currency bitcoin enthusiasts are optimistic, during a period of rising market in 2017, bitcoin reached $20 thousand, but he did not sell his bitcoin. Many investors move to Tim Draper was very puzzled.

According to the current exchange rate, Tim Draper clearing his bitcoin, he can get $107 million. However, it seems that Draper is not willing to sell his BTC, he believes that this industry has higher development in the future.

He pointed out that bitcoin can not only become a global, diversified and digital cash storage mode, but also can implement block chain in some of the most important aspects of society. He put his point of view summed up a short sentence: he is honest, honest, block chain safe and fair.

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