Two-time auction winner Tim Draper has revealed to CoinDesk that he is not participating in today’s auction of more than 44,000 BTC confiscated from convicted Silk Road operator Ross Ulbricht.
The venture capitalist and Draper Fisher Jurvetson (DFJ) partner was the sole winner of the first US government auction of nearly 30,000 BTC (then valued at roughly $18m) held last July, again purchasing 2,000 BTC (worth $750,000) in an auction of 50,000 BTC held in December 2014.
Though short in his remarks, Draper told CoinDesk that he "didn’t participate" in today’s auction, which is scheduled to conclude at 18:00 UTC.
Draper did not elaborate on any reasons underpinning the decision.
Confirmed participants in the auction so far include bitcoin hedge fund Binary Financial and over-the-counter bitcoin trading firm Genesis Trading. Major US bitcoin exchanges including Coinbase, Gemini and itBit have stated that they are not participating or declined to comment on their involvement in the sale.
Representatives of the US Marshals Service (USMS), the government agency overseeing the auction, did not respond to requests for clarity as to when any winner in today’s auction could be expected to be announced.
Draper was, however, optimistic about the recently rising price of bitcoin in his remarks, concluding his email by writing:
”How about that BITCOIN?”
AuctionsSilk RoadTim DraperUS Marshals
Korean Government to Lead 6 Blockchain Pilots With $9 Million Fund
The South Korean government will invest 10 billion Korean won (or $9 million) to support blockchain development in the country, with plans to carry out six pilots using blockchain technology.
Tencent, Chinese Officials Partner on Fighting Blockchain Security Risks
Technology giant Tencent is teaming up with the Chinese government to fight blockchain-related security issues.
The firm's vice president, Bin Ma, announced the formation of the China Blockchain Se
ICON Token Swap Underway With 'No Issues,' Foundation Says
Millions of dollars worth of ICON tokens are now on the move - as the cryptocurrency project begins its token migration.
Designed to connect independent blockchain communities with a variety of gov
21e800: Bitcoin, Satoshi and the Mystery Twitter Is Obsessing Over
This is a hashtag, but not just any hashtag. In all likelihood, it's the longest and most confusing one you'll ever come across tre
Ex-FDIC Chair Bair: 'I Welcome' New Rules for Crypto
Sheila Bair, a former chairperson of the Federal Deposit Insurance Corporation (FDIC), believes the U.S. should create a wholly new regulatory framework for cryptocurrencies.
Speaking at CB Insight
$3 Billion Blockchain Tron Kicks Off Token Migration Today
The 10th most valuable cryptocurrency in the world is set to commence its token migration process on Thursday.
Created by former Ripple representative Justin Sun, Tron aims to build infrastructure
Ripple CEO Defends XRP's Utility at Fintech Conference
"Let's be clear: Ripple is different than XRP," Brad Garlinghouse, CEO of distributed ledger startup Ripple, argued during CB Insights' Future of Fintech conference on Thursday.
Bitcoin Just Got a Shoutout in a New US Supreme Court Opinion
That's not something you see every day: an opinion from the U.S. Supreme Court that makes a reference to cryptocurrencies.
On June 21, the Supreme Court issued a ruling on Wisconsin Central Ltd. v.