Quote from: mindrust on September 04, 2016, 05:33:52 PM

Quote from: Sithara007 on September 04, 2016, 04:32:27 PM

Quote from: QuestionAuthority on September 04, 2016, 03:36:13 PM

Quote from: Divinespark on September 04, 2016, 03:26:15 PM

Chamath Palihapattiya is on record as saying that he owns ~ 25k coins
Tim Draper probably owns 25 to 50k coins all purchased via exchanges and auctions...

Tim Draper is probably kicking himself right now because his coins are worth less than he paid for them at auction.

I don't know.... In addition to the coins which he got from the Silk Road auction (close to BTC30,000 at around $600 per coin), he purchased thousands of additional coins from various exchanges. And right now, it seems that he is almost at break-even.

I can't help but think, what if he decides to dump his coins right now to get back his FIAT? What would happen? He definitely won't get his 60M$ if he panic sells his 30kBTC because there is no such support at this price range. We would see like 100$/BTC i guess.

Yeah, he couldn't do that and not lose money. He has to be it it for the long haul because it will take years for the price to go high enough for him to sell and not crash the price. If he bought at $600 and began selling at $600 the last third of his coins he would be selling below $400 and lose money. He needs the price to be above $1,000 to sell for a profit.