Investor Tim Draper Announces He Won Silk Road Bitcoin Auction

After some speculation yesterday about the winner of the auction for the first block of bitcoins seized from the Silk Road, the winner went ahead and made his identity public. Tim Draper has won the U.S. Marshals bitcoin auction and is partnering with Vaurum to provide bitcoin liquidity in emerging markets. ... Tim offered this in a 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.”

Re:Weak != Bad

[Wonko the Sane]

I'll take my chances with the US dollar thanks. I trust it FAR more than I do bitcoin.

Excellent news.

Seriously, I love hearing that. Not everybody deserves to be a Bitcoin early adopter.