Tim Draper, founder of Draper Associates and a renowned investor, shared insights on the X platform about his early experiences with Bitcoin. According to Odaily, Draper revealed that his initial purchase of Bitcoin was at a price of $4 per coin. His investment was driven not by an understanding of the technology or foresight into its future, but by the belief in digital currency's potential to transform the lives of those without access to traditional banking.
Draper recounted participating in a U.S. Marshals auction, where he successfully bid on 30,000 Bitcoins at $632 each, slightly above the market price of $618 at the time. Despite a subsequent drop in Bitcoin's value to $180, Draper remained committed to holding his investment. He emphasized his conviction that Bitcoin is not merely an investment but a tool capable of changing the global financial landscape.
