Tim Draper: First Bought BTC at Only $4 Per Coin, Firmly Believes Bitcoin Is Not an Investment but a Tool to Change the World

Odaily News Tim Draper, founder of Draper Associates and a renowned investor, posted on the X platform, stating that when he first bought Bitcoin, the price was only $4 per coin. However, his initial investment wasn't driven by an understanding of the technology or foreseeing the future; rather, he was captivated by the idea that digital currency could bring change to people who couldn't access traditional banking. Later, when the U.S. Marshals Service auctioned 30,000 Bitcoins, he entered the market again, bidding $632 per coin (the market price was $618 at the time) and won all nine auction lots. Despite the price subsequently dropping to $180, he held firm. He did this because he firmly believes Bitcoin is not an investment but a tool to change the "rules of the game" for the world.