According to bitcoin exchange Vaurum founder Avish Bhama, VC Tim Draper won all 30,000 BTC in the recent government auction. It is believed he paid above the current market rate for BTC. The price of one BTC is now up $5 to $645. Draper and Bhama intend to use the hoard to allow emerging markets to buy and use bitcoin in lieu of their own fiat currencies, thereby assisting in bitcoin liquidity. Read More
