Tim Draper’s venture capital studio to give away $100 in Bitcoins to every attendee of the LA Blockchain week.
If you are a bitcoin aficionado, you are in for a treat. Attend the LA Blockchain Week conference and you will get $100 worth of bitcoins. No this is not a joke! Millionaire, Timothy Draper is giving out $1 million of his wealth to the LA Blockchain week attendees. Draper wants to spread cryptocurrency awareness hence his philanthropic move to give away $100 worth of bitcoins to every visitor.
Normally, you can’t trust such bitcoin giveaways as they are always muddled in some scam or cyber heist. But, not this one. Timothy Cook Draper is an American venture capital investor, and founder of Draper Fisher Jurvetson (DFJ), Draper University, Draper Venture Network, Draper Associates, and Draper Goren Holm. His most prominent investments include Baidu, Hotmail, Skype, Tesla, SpaceX, AngelList, SolarCity, Ring, Twitter, DocuSign, Coinbase, Robinhood, Ancestry.com, Twitch, Cruise Automation, and Focus Media.
In July 2014, Draper received wide coverage for his purchase at a US Marshals Service auction of seized bitcoins from the Silk Road marketplace website. Draper is a major proponent of Bitcoin and decentralization.
The main motto behind the act is to help people to learn about Bitcoin trading and how to spend it in an effective way. Earlier in 2013, Draper bought 30,000 bitcoins in an auction from US authorities who were auctioning the seized bitcoins from the infamous marketplace, Silk Road. You may read about the Silk Road seizure by FBI in 2013 here. Draper got those 30,000 bitcoins by paying just $19 million, and if you look at the amount of those Bitcoin is now worth $288 million today. Now Tim Draper’s venture capital studio to give away $100 in Bitcoin to every attendee of the LA blockchain week.
There is currently no limit but we hope to hit $1 million in Bitcoin given away, We decided to do this for one main and simple reason. The best way to learn about Bitcoin is to own some and to use some and to see its power firsthand. After we give everyone the BITCOIN we are going to provide them with tutorials on how to spend it, how to save it, how to send it to family members on the other side of the world, how to invest it, etc…
Alon Goren, founding partner at Draper Goren Holm
The event has already started and has witnessed 1,000 sign-ups so far. However, the organizers expect over 20,000 attendees that will sign-up for the event. To sign up for the event you need to sign up for a ticket that is generally available on the trading platform. This can be good practice for the people that are afraid of investing in Bitcoin and lack knowledge in the e-trading platforms.