One Auction Bidder Claimed The 30,000 Silk Road Bitcoins

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Posted by: DeepDotWeb

July 2, 2014

Update: VC Tim Draper is the Silk Road Bitcoin Auction Winner:

Pioneering venture capitalist Tim Draper, father of noted bitcoin industry VC Adam Draper and managing director of the VC firm Draper Fisher Jurvetson, has been revealed as the winner of last Friday’s US Marshals auction of nearly 30,000 BTC.

The announcement was released via a blog post on Medium issued by California-based bitcoin trading and storage startup Vaurum. Draper was previously named as an investor in the company’s $4m seed funding round this May.

In the post authored by Vaurum CEO Avish Bhama, the company announced that Draper intends to partner with Vaurum to use the roughly 30,000 BTC to provide bitcoin liquidity in emerging markets.

Draper said:

“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.”

It was reported at Coindesk:

he US Marshals Service (USMS) has announced that a single, undisclosed bidder claimed all of the roughly 30,000 bitcoins seized from online black market Silk Road and sold in its recent auction.

The winning bidder outbid all other parties for the 10 auction blocks, according to the USMS. Further, the bitcoins have already been transferred to the winner, according to Blockchain.

The USMS previously said that it would begin notifying bidders as to whether they had secured any of the blocks on 30th June. The auction took place on Friday, 27th June over a 12-hour span.

In a statement, the USMS said:

“The US Marshals Bitcoin auction resulted in one winning bidder. The transfer of the bitcoins to the winner was completed today.”

The auction was structured into 10 blocks, with the first nine consisting of 3,000 BTC and the last one featuring 2,656.51306529 BTC.


The identity of the winning bidder remains unknown for now.


Updated: 2014-07-02