Tim Draper

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Updated Sep 9, 2021 at 1:08 p.m. UTC
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Tim Draper, born in 1958, is an American venture capitalist who has invested in multiple cryptocurrency and blockchain startups. He is also the founder of Draper Associates, Draper Fisher Jurvetson (later renamed Threshold) and Draper University of Heroes, a school for early-stage entrepreneurs in San Mateo, CA.

Through both his VC funds, Draper has invested in prominent technology companies (both blockchain technology and regular Silicon Valley technology companies) that include Coinbase, OpenNode, Ledger, Skype, Twitch, Tesla and SpaceX through Draper Associates and tumblr, Giphy, Hotmail, Twitter, AngelList and FourSquare through Threshold.

Draper is a bitcoin advocate and was an early investor in the cryptocurrency, having bought $250,000 worth of bitcoin when the price of a single bitcoin was $6. Although he lost his entire investment when bitcoin exchange Mt. Gox collapsed in 2014, Draper won a bid for approximately $20 million for 30,000 bitcoin at a U.S. Marshals auction later that year. The auction was organized to sell the bitcoin owned by Silk Road creator Ross Ulbricht that was confiscated on his arrest.

A second auction by the U.S. Marshals in December 2014 saw Draper win 2,000 BTC (worth roughly $750,000 at the time).

In 2013, Draper University of Heroes became the first institute of higher education to accept tuition payment in bitcoin.

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This article was originally published on Jun 7, 2020 at 2:48 a.m. UTC

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