Tim Draper-Linked Wallet Moves 1,000 BTC Worth $61.8 Million to Coinbase Prime

A cryptocurrency wallet believed to be linked to venture capitalist Tim Draper transferred 1,000 BTC, valued at approximately $61.8 million, to Coinbase Prime around seven hours ago, according to blockchain data.

The transaction has drawn attention because it may involve holdings from Draper's well-known Bitcoin investment. In 2014, he purchased nearly 29,656 BTC at a U.S. Marshals Service auction of seized Silk Road assets, paying about $18.7 million, or roughly $632 per Bitcoin.

Draper's auction purchase later became one of the cryptocurrency market's most notable investments, with the holdings peaking at about $3.74 billion. At current market prices, the same 29,656 BTC are worth approximately $1.82 billion.

Source: Lookonchain