Draper Fisher Jurvetson managing director and avid bitcoin enthusiast Tim Draper has once again entered a winning bid in a bitcoin auction held by the US Marshals Service.
However, unlike the first auction, in which he was able to purchase all 29,656 of the auctioned bitcoins, Draper confirmed to CoinDesk that this time he won just one block of 2,000 BTC (worth roughly $750,000 at press time).
Dude is averaging out!
Draper said that Draper Associates will now provide 300 BTC to each startup that graduates Boost VC's next startup accelerator class as a result of the winning bid. The bitcoin-focused startup accelerator was notably founded by his son, Adam Draper.
"The interesting part is that we are fixing the valuation," Draper said. "The 300 BTC are worth about $120,000 today, but may be worth quite a bit more, or less, when the entrepreneurs receive them."