Tim Draper Doubles Down on Bitcoin Investment: A Look at His Journey with 29,656 BTC

In a recent statement, renowned investor Tim Draper, who was an early backer of both Tesla and Skype, reaffirmed his commitment to Bitcoin, asserting, “I have been continuously buying more Bitcoin.” Draper’s notable history with Bitcoin dates back to July 2014, when he acquired approximately 29,656 BTC for about $19 million during a U.S. Marshals Service auction. This purchase, made at an average price of *$640*, came from assets confiscated in the Silk Road crackdown. Draper has consistently expressed strong confidence in Bitcoin’s potential, advocating that it can deliver significant *liquidity* to emerging markets and act as a *safeguard* against *currency devaluation*. As the cryptocurrency landscape evolves, Draper’s investment strategy highlights the increasing recognition of Bitcoin as a pivotal financial asset.