The Billionaire Who Bought 30,000 Bitcoins at an Average Price of $632, Is He Also Starting to Sell?
A wallet suspected to be linked to billionaire venture capitalist Tim Draper deposited 1,000 BTC (worth approximately $61.82 million) into Coinbase Prime, sparking speculation that he may be selling. In April, another associated wallet sent 150.84 BTC to Coinbase, likely at a loss.
Tim Draper is a renowned Silicon Valley investor in companies like Hotmail, Skype, Tesla, and SpaceX. He is also one of the most prominent Bitcoin whales, having famously purchased 29,656 BTC for roughly $632 each in a 2014 U.S. Marshals Service auction, following a total loss of 40,000 BTC in the Mt. Gox collapse earlier that year. His total cost for approximately 31,657 BTC was about $19.7 million, which is now valued at over $1.8 billion.
Draper is widely known for his long-term bullish stance on Bitcoin, famously stating, "Why would I sell the future for the past?" and claiming he is a "net buyer" who never sells. He has repeatedly predicted Bitcoin would reach $250,000, though the timeline has shifted over the years. Despite building a public persona of holding through all market cycles, these recent transfers to exchanges challenge that narrative.
Foresight News07/03 03:30
