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Tim Draper Wins Part of Second Silk Road Bitcoin Auction

Investor Tim Draper won part of an auction of 50,000 bitcoins auctioned by the U.S. government, which is disposing of virtual currency seized from the Silk Road online marketplace.

Draper, who bid on behalf of Draper Associates, said in an e-mailed statement that he bid successfully for 2,000 bitcoins at yesterday’s tender. The auction was the second sale after the U.S. Marshals Service sold almost 30,000 bitcoins in June, which Draper won in its entirety. Draper didn’t disclose how much he paid for either winning bid.