Tuesday, January 27, 2015

Venture Capitalist Bets $400,000 More on Bitcoin Revival

One of bitcoin’s biggest backers, billionaire venture capitalist Tim Draper, recently wagered about $400,000 that the digital currency will rebound from its recent plunge.
Draper, who co-founded investment firm Draper Fisher Jurvetson, said in an e-mail that he bought 2,000 bitcoins for “around $200” last week. Draper, one of the biggest buyers in U.S. government auctions of bitcoin last year, is betting that the virtual currency will bounce back after prices dropped 70 percent in the past year.

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