Tim Draper: Buying Bitcoin at $4, Believing in Its Power to Change the World

Bitcoin Investment Starting at $4

Tim Draper, founder of the renowned venture capital firm Draper Associates, recently shared his early Bitcoin investment journey on social media. When he first bought Bitcoin, the price was just $4 per coin. Back then, he didn't fully understand blockchain technology nor predict its future, but he was drawn by the idea that Bitcoin could empower people excluded from the traditional banking system.

Participating in US Marshals Auctions and Holding Firm

Later, when the US Marshals Service auctioned off 30,000 Bitcoins, Draper jumped in again. He successfully bid at $632 per Bitcoin (slightly above the market price of $618 at the time) and won all nine auction batches.

• Purchase price: $632 per Bitcoin
• Won batches: All nine auction rounds
• Subsequent price drop: Fell to $180

Even after the steep price decline, he held onto his holdings, firmly believing that Bitcoin's true value lies not in short-term gains, but in its potential to reshape the global financial landscape.